. A three-year interest rate swap has a level notional amount of 300,000. Each settlement period is one year and the variable rate is the one-year spot interest rate at the beginning of the settlement period. The swap rate for this interest rate swap is 4.317%. Two years have elapsed and the one-year spot interest rate at the start of year three is 5.25%. Calculate the market value of the swap from the perspective of the payer.

In a high school with 3000 students, counselors are putting together a math tutoring program for the neighboring middle school. they plan to invite high school students with high average test scores to tutor middle school students, and they would like to offer gift cards to the student tutors. the counselors have a spreadsheet showing each student’s average test scores, and in order to find out how many gift cards they should purchase, the counselors need to count how many students would qualify to become tutors. which type of function would best the counselors determine the number of eligible students?