Given the forward rates below, nd the swap rate for a 1-yr DEFERRED,3-year swap that uses notional $1M in year 1, $3M in year 2 and $5M inyear 3. So, you wait a year, then the 3-year swap begins, but we need to find the swap rate now.

f0,1 = 4.00% $1,2 = 4.00% 11,3) = 4.50% $(1,4 = 5.00% $2,3 = 5.00% 52,4 = 5.50% $2,5) = 6.00% $3,4 = 6.00% $3,5) = 6.50% $14,5) = 7.00% ] f0,1 = 4.00% $1,2 = 4.00% 11,3) = 4.50% $(1,4 = 5.00% $2,3 = 5.00% 52,4 = 5.50% $2,5) = 6.00% $3,4 = 6.00% $3,5) = 6.50% $14,5) = 7.00% ]