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The following information applies to Problem 2- 4. Suppose that today's forward-rate curve for quarterly compounding is flat at 2% and one year later it

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The following information applies to Problem 2- 4. Suppose that today's forward-rate curve for quarterly compounding is flat at 2% and one year later it will remain flat yet at 3%. 2. (4) If you long a FRA today for $1m notional value and 3-year maturity, what will be the P&L one year later

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