6. Assuming that zero rates are as in Problem 4.5, what is the value of an FRA that enables the holder to earn 9.5% for a 3-month period starting in 1 year on a principal of $1,000,000? The interest rate is expressed with quarterly compounding. 7. The term structure of interest rates is upward-sloping. Put the following in order of magnitude: (a) The 5-year zero rate (b) The yield on a 5-year coupon-bearing bond (c) The forward rate corresponding to the period between 4.75 and 5 years in the future. What is the answer when the term structure of interest rates is downward-sloping? 8. What does duration tell vou about the sensitivity of a bond portfolio to interest rates. What are the limitations of the duration measure? 9. What rate of interest with continuous compounding is equivalent to 15% per annum with monthly compounding? 10. A deposit account pays 12% per annum with continuous compounding, but interest is actually paid quarterly. How much interest will be paid each quarter on a $10,000 deposit? Add in text citations and references.