Problem 24 Attempt 1/2 for 10 pts. Part 1 Which of the following statements is true about interest rate swaps At contract maturity, the parties exchange (swap) the securities specified by the contract The parties exchange a series of cash flows called notional principals. O At the beginning of the contract, the parties exchange (swap) the agreed notional amounts They allow the parties to convert a fixed interest rate into a floating rate or vice versa. The main purpose of interest rate swaps is to hedge against exchange-rate risk Submit