Question: Please explain the steps you took to reach a solution: You signed a 10-year interest swap (principal USD 1,000,000) with annual payments to pay LIBOR

Please explain the steps you took to reach a solution: You signed a 10-year interest swap (principal USD 1,000,000) with annual payments to pay LIBOR USD and receive fixed CHF. The quote is CHF 6%- 6.1% The spot rate at the time of the was CHF 0.9/ USD. Two years later you want to unwind the swap. The USD interest rate is 4% and the CHF interest rate is also 4%. What is the value of the swap in USD if the spot rate is 0.82? (round to the nearest $)

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