17. Find the market value of a plain vanilla swap with payments every 180 days from the perspective of the fixed rate payer in which the upcoming payment is in 30 days, and there is one more payment 180 days after that. The fixed rate is 7 percent p.a. and the upcoming floating payment is at 6.5 percent p.a. The notional amount is $15 million. Assume 360 days in a year. The prices of $1 zero coupon bonds are 0.9934 (30 days) and 0.9528 (210 days). A. the fixed payer pays $31,763.75 B. the fixed payer pays $71,527.50 C. the floating payer pays $49,500 D. the floating payer pays $194,228 E. none of the above 18. An equity swap with fixed interest payments has two payments remaining. The first occurs in 30 days and the second occurs in 210 days. The discount factors are 0.9934 (30 days) and 0.9528 (210 days). The upcoming fixed payment is at 4 percent p.a. and is based on 180 days in a 360-day year. The equity index was at 1150 at the beginning of the period and is now at 1152.75. The notional amount is $60 million. Find the approximate value of the equity swap from the perspective of the party making the equity payment and receiving the fixed payment. $143,478 $640,038 -$143,478 -$640,038 -$496,560