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Given the Forward-Forward transaction between Citibank and Bank of America, which of the statements below describes the transactions correctly? 6-month forward rate: $1.1843/ 9-month forward

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Given the Forward-Forward transaction between Citibank and Bank of America, which of the statements below describes the transactions correctly? 6-month forward rate: $1.1843/ 9-month forward rate: $1.1572/ In 6 months Deutsche Bank $1,000,000 844,381 In 9 Month Deutsche Bank $1,000,000 864,155 Bank of America $1,000,000 844381 Bank of America $1,000,000 864,155 Bank of America borrows 844,381 from Deutsche Bank in 6-month for 3- month, provides $1,000,000 as collateral and pays 19.774 implied interest. Bank of America borrows $1,000,000 from Deutsche Bank in 6-month for 3- month, provides 844,381 as collateral and pays 864,155 implied interest. Deutsche Bank borrows 844,381 from Bank of America in 6-month for 3- month, provides $1,000,000 as collateral and pays 19.774 implied interest None of the answers are correct Deutsche Bank borrows 844,381 from Bank of America today for 9-month, provides $1,000,000 as collateral and pays 864,155 implied interest

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