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(a) It is February 1 2021, the 3 month (91 days) $LIBOR spot interest rate is 5.5% and the 6 month (182 days) $LIBOR spot

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(a) It is February 1 2021, the 3 month (91 days) $LIBOR spot interest rate is 5.5% and the 6 month (182 days) $LIBOR spot interest is 5%. Calculate the appropriate price of the May 2 (91 days from 1 February) $LIBOR interest rate futures contract. (b) Explain the rationale behind your result givent hat the contract size is for $1 million

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