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2. Assume that spot rates are as in Q1, what is the value of an FRA that enables the holder to earn 9.5% for a

2. Assume that spot rates are as in Q1, what is the value of an FRA that enables the holder to earn 9.5% for a 3 -month period starting in 1 year on a principal of $1,000,000 ? The 9.5% interest rate is quarterly compounded

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