A(n)____________ is an agreement for a fee to receive payments when the interest rate of a particular security rises above a specified level by a specified date.

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An interest rate cap is a type of derivative contract that provides the purchaser with payments when the interest rate exceeds a certain level, known as the cap rate, by a specified date. This financial instrument is used to hedge against rising interest rates.

A(n)____________ Is an Agreement for a Fee to Receive Payments