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Assume the following swap terms: Gomes Bank Bagley Bank Pay 8% LIBOR + 0.5% Receive LIBOR + 0.5% 8% Assume the notional principal is $10

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Assume the following swap terms: Gomes Bank Bagley Bank Pay 8% LIBOR + 0.5% Receive LIBOR + 0.5% 8% Assume the notional principal is $10 million. Assume payments are annual Question 13 (4 points) What would be the net swap payment if LIBOR turned out to be 6.75%? Enter in dollars without a dollar sign and without commas. Your Answer: Answer Question 14 (2 points) Which bank pays

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