The article provides a practical guide on interest rate derivatives, covering topics like time value of money, short-term interest rates, bond pricing, interest rate swaps, zero coupon curves, asset and liability swaps, hedging strategies, cross currency swaps, interest rate options, and exotic swaps/options. The main goal is to help readers understand and apply complex financial concepts in a clear and concise manner. Key findings include various calculations, pricing methods, and real-world case studies to illustrate the applications of interest rate derivatives in financial markets.