You enter into a $100 million notional swap to pay six-month Libor and receive 6%. Payment dates are semi-annual on both legs. The last payment date was March 25 and the next payment date is September 25. Floating payments are based on the USD money-market convention, and fixed payments are based on the 30/360 convention. If the floating rate was reset to 6% on March 25, what is the net amount you will receive on September 25?
A) 0.
B) -$66,667.
C) +$66,667
D) +133,333

Question

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The Answer of You enter into a $100 million notional swap to pay six-month Libor and receive 6%. Payment dates are semi-annual on both legs. The last payment date was March 25 and the next payment date is September 25. Floating payments are based on the USD money-market convention, and fixed payments are based on the 30/360 convention. If the floating rate was reset to 6% on March 25, what is the net amount you will receive on September 25?
A) 0.
B) -$66,667.
C) +$66,667
D) +133,333

You Enter into a $100 Million Notional Swap to Pay