Q1. You need to value a European-style, interest rate payer swaption, and a receiver swaption with the same characteristics. The swaption is on a 2-year swap with semi-annual payments, exercise price of 4 percent and a notional principal of $30 mln. Based on the term structure below, value the swap:

R₁₈₀=0.029

R₃₆₀=0.030

R₅₄₀=0.032

R₇₂₀=0.036