You are given the following spot rates:

Time Spot Rate

1 3.0%

2 4.0%

3 4.5%

4 5.2%

Odette enters into a three-year interest rate swap where the floating rate resets annually. The notional amount of the swap is 2000 the first year,3000 the second year, and 5000 the third year. Determine the swap rate.