Assume that the swap rate for an interest-rate swap is 7% and that the fixed-rate payments...
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Assume that the swap rate for an interest-rate swap is 7% and that the fixed-rate payments are made semiannually on an actual / 360 basis. If the notional amount of a two-year swap is $20 million in year 1 and $12 million in year 2, how much will the fixed-rate payer have paid in total across the four semiannual payments, assuming the following number of days in each quarter? Quarter 012345678 Days 92 92 90 91 92 92 90 91 Assume that the swap rate for an interest-rate swap is 7% and that the fixed-rate payments are made semiannually on an actual / 360 basis. If the notional amount of a two-year swap is $20 million in year 1 and $12 million in year 2, how much will the fixed-rate payer have paid in total across the four semiannual payments, assuming the following number of days in each quarter? Quarter 012345678 Days 92 92 90 91 92 92 90 91
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