Consider a two year interest rate swap contract $9\%$ fixed annual payments for floating payments determined by current future euro dollar interest rates with $1$ million not principal currently the one year year$-$old dollar interest rate is $4\mathrm{.}6\%$ and the two$-$year year$-$old dollar rate is $9\mathrm{.}1\%$ the contract is an off market swamp one of the two counterparty to the small contract demands payment from the other counterparty at origination or time $-08$ does the loan position receive in floating payment pay paying fixed payments need to pay the short position or show the counterparty with the short position pay the counterparty with the loan position what would be the dollar amount of this payment see what would be the time negative one difference check net cash flow T minus one year to the law position D what is the value of the small contract to the counter party with the long nine months after origination of the three month year$-$old dollar rate at that time is $6\mathrm{.}5\%$ and the $15$ month year$-$old dollar rate is $12\%$