A person enters into a rate swap where the floating rate resets annually. The notional amount of the swap is $6,500 the first year, $5,000 the second year and $3,000 the third year. Your are given the following spot rates time spot rate

1. 8.0%

2. 8.5%

3. 9.0%

Determine the swap rate. Hint: It will require calculation of some forward rates as an intermediate step.