How was the forward premium calculated in this problem? Those answers are from after submission, so they are correct. Could you please should me your work? I am not understanding which number is used as the spot rate and the forward rate. The question before this one we calculated the mid-rate, just in case that's relevant.

The annual forward premium is: Forward premium =- Forward rate - Spot rate Ex(360/Days) Spot rate The annual forward premium for all maturities is calculated below: Bid Rate Forward Days Forward Ask Rate US$/A$ Period US$/A$ Premium Spot 0.9831 1 month -3.8690 % 0.9798 0.9763 2 months -4.1009 3 months 0.9833 0.9802 0.9767 0.9735 0.9627 0.9394 0.8962 -4.0337 6 months 0.9731 0.9622 0.9386 0.8950 -4.2229 -4.4940 12 months 24 months -4.4556 The annual forward premium is: Forward premium =- Forward rate - Spot rate Ex(360/Days) Spot rate The annual forward premium for all maturities is calculated below: Bid Rate Forward Days Forward Ask Rate US$/A$ Period US$/A$ Premium Spot 0.9831 1 month -3.8690 % 0.9798 0.9763 2 months -4.1009 3 months 0.9833 0.9802 0.9767 0.9735 0.9627 0.9394 0.8962 -4.0337 6 months 0.9731 0.9622 0.9386 0.8950 -4.2229 -4.4940 12 months 24 months -4.4556