Second floating rate payment

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Reference no: EM131089259

Today is Monday, April 25, 2016. You are a customer ready to trade swaps.You execute a new receive fixed/pay floating swap with a 5-year tenor and $10 million notional amount.

You trade this swap under standard terms at a fixed rate of 1.318828%. 3-month LIBOR was set the same morning in London at 0.63585%.

How many days of interest will you owe on your second floating rate payment?

A. 90

B. 91

C. 92

D. 93

Reference no: EM131089259

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