3. You are presented with the following (mid-market) bank deposit quotes: Term (mos) Rate Day Count 182 6 0.90% 9 1.05% 273 12 1.22% 365 a) Calculate the mid-market "9 against 12" month forward rate agreement implied by these quotes. If you wanted to lock in a reinvestment rate for three months beginning in nine months, would you buy or sell this FRA? b) At the end of 9 months, the FRA's settlement date arrives and mid-market three month deposits are quoted at 1.50%. Calculate the settlement payment of your FRA and identify whether you would receive that payment or be obligated to make it to your counterparty. 3. You are presented with the following (mid-market) bank deposit quotes: Term (mos) Rate Day Count 182 6 0.90% 9 1.05% 273 12 1.22% 365 a) Calculate the mid-market "9 against 12" month forward rate agreement implied by these quotes. If you wanted to lock in a reinvestment rate for three months beginning in nine months, would you buy or sell this FRA? b) At the end of 9 months, the FRA's settlement date arrives and mid-market three month deposits are quoted at 1.50%. Calculate the settlement payment of your FRA and identify whether you would receive that payment or be obligated to make it to your counterparty