Question: Please answer this. The last answer on chegg is wrong. The 5 -year effective spot rate is R(5)=3.85% and annuities that have maturity 5 years

 Please answer this. The last answer on chegg is wrong. The

Please answer this. The last answer on chegg is wrong.

The 5 -year effective spot rate is R(5)=3.85% and annuities that have maturity 5 years and make monthly payments of $100 are trading at $5550. Find the swap rate qswap[12] for an interest rate swap having maturity 5 years and 12 swap dates per year

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