为什么选A呢

问题如下：

The price of a pay-fixed receive-floating interest rate swap is most likely:

选项：

A.

the fixed rate that results in a market value of zero for the swap at initiation.

B.

the present value of the floating-rate payments minus the present value of the fixed-rate payments.

C.

the sum of the fixed-rate payments minus the sum of the floating-rate payments.

解释：

The price of the swap is the fixed rate on the swap at the start of the transaction such that the present value of fixed payments is equal to the present value of the floating payments and the market value of the swap is zero.

B and C are incorrect. These calculations provide the market value of the swap to one of the parties.