Question Pam entered into a four-year interest rate swap two years ago with a level annual notional amount of 1000 each year for 4 years. Under the four-year swap, Pam 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 5.0% 4 6.0% Determine the market value of the swap from Pam's perspective if the swap is to be sold today. Possible Answers - 11 B 11 14 D 14 E 17