You are given the following spot rates:

Time

Spot Rate

11

3.0% 3.0%

22

4.0% 4.0%

33

4.5% 4.5%

44

5.2% 5.2%

Odette enters into a three-year interest rate swap where the floating rate resets annually. The notional amount of the swap is 20002000 the first year, 30003000 the second year, and 50005000 the third year. Determine the swap rate.