Suppose you long a 90-day LIBOR based FRA with notional amount of $10 million. The forward rate is 5.62 percent. At the FRA expiration, LIBOR is 6.05 percent. What is the dollar profit (or loss) on this FRA?

Show all your work to receive credits. Correct answers with no supporting work will receive no credit. If not otherwise specified, use six decimal places in calculation and round the final answers to four decimal places. Use the following term structure of LIBOR for questions 1 and 3 Term (days) Rate 5.70 30 60 5.55 90 605 120 6.10 150 6.15 180 6.22 270 6.33 360 6.35