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QUESTION 1 The zero curve is flat at 0.06 per annum. What is the value of an FRA where the holder receives interest at the

QUESTION 1 The zero curve is flat at 0.06 per annum. What is the value of an FRA where the holder receives interest at the rate of 0.08 per annum for a six-month period on a principal of $1,000 starting in three years? All rates are compounded semiannually. (Round your answer to 2 decimal places)

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