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A bank has entered into an interest rate swap with company X Under the terms of the swap, it receives 10% per annum and pays

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A bank has entered into an interest rate swap with company X Under the terms of the swap, it receives 10% per annum and pays ske-month LIBOR on a principal of S15 million for five years. Payments are made every six months Assume Libor 9% What is the net payment for the bank on the first payment date? 575000 5-75000 5 55.000 545000 O

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