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(2) 2 days ago, Madona took a short position in a ten million 3*6 FRA 30 (Forward Rate Agreement) based on the London Interbank Offered

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(2) 2 days ago, Madona took a short position in a ten million 3*6 FRA 30 (Forward Rate Agreement) based on the London Interbank Offered Rate (LIBOR) and priced at 5%. The current LIBOR for the following periods is as * follows. What is the current value of Madona's position One Month = 4.8% Two Months -5.0% Three Months = 5.1% Four Months = 5.2% Five Months 5.4% -$15,495 O -$15,280 -$15,154 O (2) 2 days ago, Madona took a short position in a ten million 3*6 FRA 30 (Forward Rate Agreement) based on the London Interbank Offered Rate (LIBOR) and priced at 5%. The current LIBOR for the following periods is as * follows. What is the current value of Madona's position One Month = 4.8% Two Months -5.0% Three Months = 5.1% Four Months = 5.2% Five Months 5.4% -$15,495 O -$15,280 -$15,154 O

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