ABC Bank (Seller) Has Made a "Three Against Six" Forward

Multiple Choice

ABC Bank (seller) has made a "three against six" Forward Rate Agreement (FRA) , with XYZ Bank (buyer) . The notional amount is $1,000,000, the settlement rate is 7%, the agreement rate is 6% and the actual number of days in the three-month agreement period is 92.
-Which of the following statements is true?

A) ABC Bank will pay XYZ Bank a cash settlement at the beginning of the 92-day FRA period
B) XYZ Bank will pay ABC Bank a cash settlement at the beginning of the 92-day FRA period
C) ABC Bank will pay XYZ Bank a cash settlement at the end of the 92-day FRA period
D) XYZ Bank will pay ABC Bank a cash settlement at the end of the 92-day FRA period