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Calculating swap fixed rates for a given maturity

I dont really understand this explanation, is there a simpler way to calculate sfr’s for a given maturity?

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Simplify the complicated side; don't complify the simplicated side.

Financial Exam Help 123: The place to get help for the CFA® exams

the problem asks you to calculate the swap spread, which is the difference between the fixed rate and the spot rate. for a non-deferred swap, the fixed rate lasting for t years is given by

SWAP = ( 1 - Pt  ) / ( P1 + P2 + … + Pt)

where Pt is the price of a t-year zero-coupon bond

in this case, SWAP = (1 - .8396) / (.9615 + .9070 + .8396) = .059229718

the spot rate for 3 years is already given to be 5.25% or .0525

therefore, the swap spread is SWAP - spot rate = .059229718 - .0525 = .006729718 or .673%

the formula for the swap should be somewhere in your cfa notes. memorize it.