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An investor is interested in betting on the future direction of interest rates.She uses a 3 x 6 FRA if the current 90-day rate is
An investor is interested in betting on the future direction of interest rates.She uses a 3 x 6 FRA if the current 90-day rate is 3%, the current 150-day rate is 4%, and the current 180-day rate is 5%?
5.4%
5.75%
6.95%
None of the above
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