Echelon horizon and advantage global enter a two-year swap agreement with a notional amount of $7,000,000 and semi-annual settlement payments. echelon will pay advantage global the floating rate which is the six-month spot rate at the beginning of each settlement period. in exchange, advantage global will pay the fixed rate. On the day that they enter the swap, the prices of zero-coupon bonds with a face value of $100 were as in the table given (Converted to spot rates). Find the fixed-rate and also determine the anticipated net swap payment at the end of the first year. Use spot rates or discount factors

Length of term in years	0.5	1.0	1.5	2.0	2.5	3.0
Bond Price	98.7	96.5	94.7	93.4	91.2	90.0

net swap payment = $39,530