5.20. Assuming that zero rates are as in Problem 5.13, what is the value of an FRA...
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5.20. Assuming that zero rates are as in Problem 5.13, what is the value of an FRA that enables the holder to earn 9.5% for a three-month period starting in one year on a principal of $1,000,000? The interest rate is expressed with quarterly compounding.
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