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2. It is the 10 th January- 01 and you enter an 18 -month equity swap on a notional principal of $1m, where you pay USD-LIBOR and receive the percentage return on the S\&P500 index. The tenor in the swap is 6 months. The 6 -month LIBOR rate is currently 5% pa and the S\&P500 index is at 1500 . Assume the LIBOR rates are 6% (after 181 days), 5% (after a further 184 days) and 5.5% (after a further 181 days). The S\&P500 index is 1550 (after 181 days), 1490 (after a further 184 days) and 1600 (after further 181 days). Assume all payments are determined using a 360-day year. Show the (ex-post) payments in the swap, using a table and the payoffs to each element in the swap, at each reset date