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You entered in to a 3 x 6 forward rate agreement that obliged you to borrow S10,000,000 at 3 percent. Suppose at the maturity of

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You entered in to a 3 x 6 forward rate agreement that obliged you to borrow S10,000,000 at 3 percent. Suppose at the maturity of the FRA, the correct interest rate is 3.5 percent. Clearly you are better off since you have the ability to borrow S10000 fr moaois ercet iiad rs eceoyoff t the maturity of the FRA

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