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A company buys a 5x11 (begins after five months, ends after eleven months), 100-million-Eurodollar forward rate agreement (FRA) that has an FRA rate of 4

A company buys a 5x11 (begins after five months, ends after eleven months), 100-million-Eurodollar forward rate agreement (FRA) that has an FRA rate of 4 percent per year. If the six-month bbalibor rate announced after five months is 5.5 percent per year, then (assuming 182 days in the six-month period and 360 days in the year), the buyer will receive on the settlement date (after five months):

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