A(n)____ swap allows the party making fixed-rate payments to terminate the swap prior to maturity.

Name: A(n)____ swap allows the party making fixed-rate payments to terminate the swap prior to maturity.
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A callable swap allows the party making fixed-rate payments the option to terminate the swap before its maturity date. This feature provides flexibility to the fixed-rate payer, similar to the option embedded in callable bonds.

A(n)____ Swap Allows the Party Making Fixed-Rate Payments to Terminate