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Commercial Finance has lent $5 million to Barely, Inc. for one year at 7%, and entered into a credit default swap with Credit Insurers for 130 basis points. If the swap calls for semi-annual payments, what is due on the first payment assuming that no default has occurred? A. Credit Insurers will pay Commercial Finance $32,500. B. Commercial Finance will pay Credit Insurers $32,500. C. Commercial Finance will pay Credit Insurers $207,500. D. Commercial Finance will pay Credit Insurers $142,500. |