A swap agreement calls for Rocky Industries to pay interest annually based on a rate of 2%
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A swap agreement calls for Rocky Industries to pay interest annually based on a rate of 2% over the one-year T-bill rate, currently 3%. In return, Rocky Industries receives interest at a rate of 4% on a fi xedrate basis. The notional principal for the swap is
$100
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Related Book For 
The Economics Of Money Banking And Financial Markets
ISBN: 978-0134376936
6th Canadian Edition
Authors: Frederic S Mishkin ,Apostolos Serletis
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