2. Suppose that oil forward prices for 1 year, 2 years, and 3 years are $20, $21, and $22. The 1-year effective annual interest rate is 6.0%, the 2-year interest rate is 6.5%, and the 3-year interest rate is 7.0%. a. What is the 3-year swap price? 1. $20.95 b. What is the price of a 2-year swap beginning in one year? (That is, the first swap settlement will be in 2 years and the second in 3 years.) i. $36.47 3. Consider the 3-year swap in the previous example (problem 2). Suppose you are the fixed-rate payer in the swap. How much have you overpaid relative to the forward price after the first swap settlement? What is the cumulative overpayment after the second swap settlement? Verify that the cumulative overpayment is zero after the third payment. (Be sure to account for interest.)