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On 1st of December 2020, Mohamed entered in a Forward rate agreement 2*4 FRA with a fixed rate of 6.00% and a notional amount of

On 1st of December 2020, Mohamed entered in a Forward rate agreement 2*4 FRA with a fixed rate of 6.00% and a notional amount of $2,000,000. What will be the value of this contract on 11th of December, if the LIBOR-110 days is 6.15% & LIBOR - 50 days is 5.85%? *

$-770

$-400

$740

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