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A bank has entered a $1 million, 2-year semi-annual plain-vanilla interest-rate swap as the fixed rate payer. The fixed rate is 5% & the floating rate is 180-day LIBOR + 100 basis points. Current LIBOR is 3.5%. Following is the data regarding 180-day LIBOR.
After 6 months: 3.8%
After 12 months: 4.2%
After 18 months: 4.4%
After 24 months: 4.5%
On the day of swap termination the bank will receive which of the following: