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Assume that the swap rate for an interest - rate swap is 7 % and that the fixed - rate payments are made quarterly on

Assume that the swap rate for an interest-rate swap is 7% and that the fixed-rate payments are made quarterly on an actual /360 basis. If the notional amount of a two-year swap is $20 million, how much will the fixed-rate payer have paid in total across the eight quarterly payments, assuming the following number of days in each quarter?
\table[[Quarter,Days],[1,92],[2,92],[3,90],[4,91],[5,92],[6,92],[7,90],[8,91]]
$3,468,333.30
$3,158,432.10
$2,838,888.90
$2,706,874.70
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