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Nadine entered into a four-year interest rate swap two years ago with a level annual notional amount of 10,000 each year for 4 years. Under

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Nadine entered into a four-year interest rate swap two years ago with a level annual notional amount of 10,000 each year for 4 years. Under the four-year swap, Nadine agreed to swap floating interest rates for a fixed interest rate of 3.4%. Two years are left on the swap agreement and today's current spot rates are: Time Spot Rate 1 3.0% 2 4.0% 3 4.5% 4 5.2% Determine the market value of the swap from Nadine's perspective if the swap is to be sold today. Possible Answers 17 B 51 110 D - 127 E 172

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