For problems 6.8-6.11, you are given the following spot interest rates vear spot rate A.09, 5.0% 5.75% 6.25% 6.5% 4 | Problem 6.8 Jacque has a variable-rate loan of 5000 for the next two years where the interest rate is reset annually to the one-year spot interest rate. Jacque enters into an interest rate swap with a two year term and annual settlement periods. Under the swap, Jacque will pay the fixed rate and receive the variable rate. (a) Determine the fixed interest rate. (b) Determine the net swap payment that will occur at the end of the first year and state whether Jacque will receive the payment or make the payment. (c) If the interest rate on the variable loan is 5.9% during the second year of the loan, determine the net swap payment that will occur at the end of the second year and state whether Jacque will receive the payment or make the payment