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A bank enters into a Forward Rate Agreement in which it agrees to pay the fixed rate f 3 m , 3 m = 2

A bank enters into a Forward Rate Agreement in which it agrees to pay the fixed rate f3m,3m =2.24209%
in three months in exchange for the market rate with the same term. If in three months the projected interest rate is set at 2.15%, an interest period of 90 days and a nominal value of 100,000,000 are assumed,
(a) Calculate the value of the contract at the end of the period.
(b) Obtain the value of the contract at the beginning of the period of interest.

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