somebody who could help and explain me the following exercise?
The current U.S. dollar ($) to Canadian dollar (C$) exchange rate is 0.7. In a $1 million fixed-for-floating currency swap, the party that is entering the swap to hedge an existing exposure to a C$-denominated fixed-rate liability will: A. receive $1 million at the termination of the swap. B. pay a fixed rate based on the yield curve in the United States. C. receive a fixed rate based on the yield curve in Canada.