Question: Use the rates shown in Table below to value an FRA where you will pay 4.7% for the third year on $1 million. Maturity( years)

Use the rates shown in Table below to value an FRA where you will pay 4.7% for the third year on $1 million.

Maturity( years) Rate (% per annum)
1 2.0
2 3.0
3 3.7
4 4.2
5 4.5

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