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I have this exercise to solve about Forward Rate Agreements (FRA). Anyone could help me to solve it? 1. The 6, 12, 18, and 24

I have this exercise to solve about Forward Rate Agreements (FRA).

Anyone could help me to solve it?

1. The 6, 12, 18, and 24 months rates are 3%, 3.5%, 3.75%, and 4%, respect- ively. What is the price of the FRA that pays 5% fixed, on a principal of 500,000 for a 6-months period, starting in 18 months? Consider semi-annual compounding.

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