Question
A bank entered into a swap paying a 4% fixed interest and receiving the rate on the S&P500 using a notional amount of $1,000,000. Settlement
A bank entered into a swap paying a 4% fixed interest and receiving the rate on the S&P500 using a notional amount of $1,000,000. Settlement happens every 90 days and the swap expires in 180 days. Based on the information below, the bank's net cash flow on day 180 is .... rounded to the nearest integer
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Contemporary Engineering Economics
Authors: Chan S. Park
5th edition
136118488, 978-8120342095, 8120342097, 978-0136118480
