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A firm sells a three against six FRA at 2.50% (annualized) with the notional principal of $2 million. At maturity the interest rate in the

A firm sells a three against six FRA at 2.50% (annualized) with the notional principal of $2 million. At maturity the interest rate in the market is 2.00%. How much is the firm cash settlement for the FRA? (Assume dtm is 91 days.)

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