Q4. Assume that a bank can borrow or lend at the rates below. What is the value of a forward rate agreement, where the bank will pay 8% for a 3-month period starting in half a year on a principal of US$1000000 T=3, 6, 9, 12, 15, 18 has rates of 8.0%, 8.2%, 8.4%, 8.5%. 8.6% and 8.7% respectively