123, Inc has entered into a "plain-vanilla" interest rate swap on $10000000 notional principal. 123 company receives a fixed rate of 6.5 percent on payments that occur at monthly intervals. Platteville Investments, a swap broker, negotiates with another firm, PPS, to take the pay-fixed side of the swap. The floating rate payment is based on LIBOR ( currently at 4.8 percent). At the time of the next payment (due in exactly one month), 123, Inc will:()
A. receive net payments of $42500.
B. receive net payments of $14167.
C. pay the dealer net payments of $14167.
参考答案：B
解析：
The net payment formula for the floating rate payer is : Floating Rate Paymentt = ( LIBORt-1 - Swap Fixed Rate) × ( number days in term / 360) × Notional Principal If the result is positive, the floating-rate payer owes a net payment and if the result is negative, then the floating-rate payer receives a net inflow. Note: We are assuming a 360 day year. Floating Rate Payment = (0.048 -0.065) × (30/360) × 10000000 = - $14167. Since the result is negative, 123 Inc will receive this amount.