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10:23 Search 7. Fill in the table below describing the payoffs on an interest rate swap contract under each of the scenarios for interest rates.

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10:23 Search 7. Fill in the table below describing the payoffs on an interest rate swap contract under each of the scenarios for interest rates. Assume that under the terms of the swap, Strickler Inc. agrees to pay the swap dealer the six- month T-bill rate minus 4 percent at the end of each of the next three six-month periods and that the notional principal equals $2 million 6 12 18 Months Months Months Six-month 3% 4% 4.5% T-bill rate Payoff to Strickler Payoff to swap dealer

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