For Q.4) to Q.6), please refer to the following problem: The following spot rates are available in the market: 4.45% per annum 6 months 12 months 4.65% 18 months 4.85% 24 months 5.05% Q.4) the implied 12 month forward rate a year from now is: a.) 4.95% b.) 5.45% c.) 5.75% 5.25% Xd.) e.) 5.95% Q.5) If you put $ 100,000 in a bank in 6 months' time for 18 months by securing a forward agreement, the amount in your account at maturity will be: a.) b.) $ 106,200 XC.) $ 105,900 $ 106,800 $110,900 d.) $ 107,900 Q.6) If you want to borrow $ 50,000 in one year's time for 6 months and the then spot rate turns out to be 5.35%, the amount you gain/lose had you not written a forward agreement would be: a.) $ (25) b.) $ 25 X c.) $ 15 d.) $ (15) e.) $ 30