Problem $4\mathrm{.}6.$Assuming that risk$-$free rates for $15$ months are $3\mathrm{.}6\%,$ what is the value of an FRA where theholder will pay LIBOR and receive $4\mathrm{.}5\%($quarterly compounded$)$ for a three$-$month periodstarting in one year on a principal of $$1,000,000.$ The forward LIBOR rate for the three$-$monthperiod is $5\%$ quarterly compounded.