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An interest rate swap is a financial contract between two parties in which one party agrees to pay a fixed interest rate to the other party in exchange for receiving a floating interest rate based on a benchmark rate, such as the LIBOR. These contracts are typically used by companies or institutions to manage their interest rate risk.
The effects of interest rates are often not directly felt but play out over a long time as valuations of real-estate and other assets adjust.
At Horizon65, we created a mobile app that enabled you to check the effect of high interest rates on your savings and to simulate potential investments that can defend against it.