Intro

A $\backslash (\backslash$$ $50\backslash )$ million interest rate swap has a remaining life of $0\mathrm{.}6$ years. The swap terms call for exchanging six$-$month LIBOR for $\backslash (4\mathrm{.}2\backslash \%\backslash )$ per annum $($compounded semiannually$)$ every $6$ months. OIS rates are $\backslash (3\mathrm{.}6\backslash \%\backslash )$ for all maturities $($with continuous compounding$)$ and $6-$month LIBOR forward rates are $\backslash (4\mathrm{.}7\backslash \%\backslash )$ for all maturities $($with semiannual compounding$).$ On the last payment date, the $6$month LIBOR forward rate was $\backslash (4\backslash \%\backslash ).$

Part $1$

Attempt $\backslash (2/4\backslash )$ for $10$ pts$.$

What is the current value of the swap to the party paying fixed $($in $\backslash$$ million$)?$