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Suzanne enters into a 2-year interest rate swap with a level notional amount of 3k. She exchanges fixed interest payments for variable interest payments every

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Suzanne enters into a 2-year interest rate swap with a level notional amount of 3k. She exchanges fixed interest payments for variable interest payments every 6 months. The 6-month swap rate is 1.0385%. The t- year spot rate at inception are

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