A lender plans to invest $100m for 150 days, 60 days from today. (That is, if today
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a. If the interest rate on day 60 is 2.8%, how much will the lender have to pay if the FRA is settled on day 60? How much if it is settled on day 210?
b. If the interest rate on day 60 is 2.2%, how much will the lender have to pay if the FRA is settled on day 60? How much if it is settled on day 210?
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