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I need help with this Question 28 Not yet answered Suppose that Woolworth needs to borrow AUD46 million in six months for a six-month period.

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Question 28 Not yet answered Suppose that Woolworth needs to borrow AUD46 million in six months for a six-month period. To lockin the rate on this loan, Woolworth buys a "6 x 6" FRA on LIBOR at 19% p.a. from ANZ for a notional principal of AUD46 million " x 6" means that ANZ has entered into a six-month forward contract on six-month LIBOR Assume that in six months LIBOR6 is 24% p.a.. How much will Woolworth receive from ANZ from this FRA contract? Assume that each month is 30 days. Marked out of 1.00 O a. AUD1150000 P Flag question O b. AUD1026786 O C. AUD1854839 O d. AUD3901786 O e AUD1050228

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