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1. On January 1, 2021 you enter a fixed for float currency swap, under which, every year and for the next 3 years, you pay

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1. On January 1, 2021 you enter a fixed for float currency swap, under which, every year and for the next 3 years, you pay LIBOR on 135M USD and receive 1.3%. Assuming the following future history for the LIBOR rate determine YOUR net cash flows at each payment date. Date January 1 2021 January 1 2022 January 1 2023 January 1 2024 Net payment LIBOR rate 1.5% 1.4% 1.3% 1.35%

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