Question $7$

$\frac{0}{1}pts$

Two years ago, you entered into a interest rate swap and the price $($fixed$-$rate$)$ was $6\mathrm{.}8($You are the receiver of the fixed rate$).$ The notional amount is $$100,000.$ Today, interest rates have changed, and you quickly calculate the updated price of your swap contract $($price$=$fixed rate calculated with today's updated PVFs$).$ The new fixed$-$rate is $8\mathrm{.}7.$

Can you calculate the value of your interest rate swap?

Please state your answer in monetary value $($i$.$e$.10,200)$ and please round to the nearest three decimals if needed. Please keep in mind the sign $(+$ or $-)$ depending on whether your swap contract has a positive or negative value. Do not type the $ symbol.

$\backslash$table$[[$TTM$,$PVF$],[1yr,0\mathrm{.}98],[2yr,0\mathrm{.}94],[3yr,0\mathrm{.}93],[4yr,0\mathrm{.}89]]$

$-7,106$ margin of error $+1-2\%$