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You are paying floating for fixed in an interest rate swap. The notional amount is $1 million and the swap rate is 4%. It is

You are paying floating for fixed in an interest rate swap. The notional amount is $1 million and the swap rate is 4%. It is the first reset date (1.5 years remain to maturity) and you have the following spot rate curve.

Maturity (years)	Z(n)
0.5	1.0%
1.0	2.0%
1.5	3.0%

Value the swap for the floating rate payer (you)

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