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Suppose that the 6-month and 9-month LIBOR rates are 2.4% and 2.8%, respectively. What is the annualized forward LIBOR rate for the period between 6

Suppose that the 6-month and 9-month LIBOR rates are 2.4% and 2.8%, respectively. What is the annualized forward LIBOR rate for the period between 6 months and 9 months? What is the value of an FRA where 3.3% is received and LIBOR is paid on $15 million for the period? All rates are quarterly compounded. Assume that LIBOR is used as the risk-free discount rate.

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