4. A bank has issued 5-year loans at an average fixed rate of 8% per year. The funds are raised by short term deposits earning LIBOR minus 1%. The bank is considering a swap to pay fixed and receive variable at LIBOR+3%. Complete the table below. Year Year-end LIBOR Bank pays to swap Bank receives Bank pays depositors Net to the bank from swap 1 5% 2 6% 7% 4 5% 5 10%