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Question 3 3 pts Suppose a bank enters into a 3-month FRA starting 9-months from today, where they agree to receive RFRA = 2.15% APR
Question 3 3 pts Suppose a bank enters into a 3-month FRA starting 9-months from today, where they agree to receive RFRA = 2.15% APR with quarterly compounding on a notional amount of L=$9,000,000 What is the FRA payoff to the bank if the 3-month spot rate 9-months from today turns out to be 2.35% APR with quarterly compounding? If answer is a payment then enter solution with a negative sign. Do not type "$" symbol
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