Q14.Assume an asset manager enters into a one year equity swap in which he will receive the return on the Nasdaq 100 index in return for paying a flaoting interest rate.The swap calls for quaterly payment.The Nasdaq 100 is at 1561.27 at the beginning of the swap.Ninety days later the rate L90 is 0.0432.Calculate the market value of the swap 100 days from the beginning of the swap if the nasdaq 100 is at 1595.72 and the term structure is

L100(80)=0.0427

L100(170)=0.0481

L100(260)=0.0544

The notional principle of swap is $50 million.