A swap bank has a quote for a five-year swap with semiannual payments is 4.504.60 percent. This means: I. the swap bank will pay semiannual fixed-rate dollar payments of 4.50 percent against receiving six-month dollar LIBOR. II. the swap bank will receive semiannual fixed-rate dollar payments of 4.60 percent against paying six-month dollar LIBOR. III. the swap bank will pay semiannual fixed-rate dollar payments of 4.60 percent against receiving six-month dollar LIBOR. IV. the swap bank will receive semiannual fixed-rate dollar payments of 4.50 percent against paying six-month dollar LIBOR. I only I and II III and IV III only