Using a table showing payments and receipts, prove that the following positions are equivalent:

a. Floating-rate loan plus fixed-rate payer's position is equivalent to a fixed-rate loan.

b. Fixed-rate loan plus floating-rate payer's position is equivalent to a floating-rate loan.

c. Floating-rate note investment plus floating-rate payer's position is equivalent to a fixed-rate investment.

d. Fixed-rate bond investment plus fixed-rate payer's position is equivalent to a floating-rate investment.