8. A two-year interest rate swap contract with a constant notional amount is entered into today. The swap rate is computed as 5.042%. The one-year spot rate is currently 5%. Determine the two- year spot rate. A 4.94% B 4.99% C 5.04% D 5.09% E 5.14% 9. A company buys a 4-year swap on May 15, 2022 with $10 million notional principal and a 4% swap rate. The company pays a 4% fixed rate on a 30/360 basis and receives 6-month LIBOR plus 80 basis points on a 30/360 basis where the rate is set two days prior to the reset date. The actual 6-month LIBOR rate on May 13, 2023 was 4.3% Calculate the settlement payment and which party (buyer or seller) pays. A 55,000 by seller B 55,000 by buyer C 15,000 by seller D 15,000 by buyer E 0, not applicable