On 6/1/2013, you entered

On 6/1/2013, you entered

On 6/1/2013, you entered into a semiannual interest rate swap contract, where you pay a fixed rate of 5.8% per annum and receive 6-m LIBOR on a principal amount of $1,000,000. Suppose the 6-m LIBOR rates were 5.3% on 6/1/2013 and 5.5% on 12/1/2013. What is the net cash flow of the swap contract on 12/1/2013?

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