Placido Electronics Limited approaches a bank in March to organise financing through a 90 -day bank bill facility. The facility will begin in May. using 90 -day bank bills with a total face value of $20 million. The compary Wishes to know what they can do now to hedge against interest rate risk The May six-month swap rate is 2.8%, and it turns out that the 90day Ber is 3% in May and 2.5\% in August. Calculate the effective interest rate established for the duration of the bill facility, through the use of a swap contract