Question: Looking for some help here to check what i did...if you are strong on swaps...could you please check my work and tell me if you

Looking for some help here to check what i did...if you are strong on swaps...could you please check my work and tell me if you would change anything?

Yellow are my answers...blue are inputs.

Looking for some help here to check what i did...if you are

Consider a $30mm notional principa interest rate swap with a fixed rate of 7%, paid quarterly on the basis of 90 days in the quarter and 360 days in the year. first floating payment is set at 7.2%. Calculate the first net payment and identify which party, the party paying fixed The or the party paying floating pays. Notional Amt 30,000,000 $540,000 Floating payment: $525,000 7.00% Fixed payment: Fixed rate $15,000 Floating rate 7.20% Net payment: Floating Payer 90 Net payer: Time to payment

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