Multiple Choice
You bought a USD 4,000,000 6x9 FRA at 6.75%. The settlement rate is 3-month (90-day) BBA LIBOR, which is fixed at 5.50%. What is the settlement amount at maturity?
A) You receive USD 12,330.46
B) You pay USD 12,330.46
C) You pay USD 12,163.81
D) You receive USD 12,163.81
Correct Answer:
Verified
Correct Answer:
Verified
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