20 million FRA payoff at expiration doubt!
I have a doubt suppose this situation I enter in a long FRA with a contract rate of 5% and a notional of 20 million USD, at the expiration the 180 day libor is 5,75% and the agreement expires in 60 days. the answer is
a) I receive 75000 usd
B) I receive 72932
C) A and B are both Wrong, If it is the case I would apreciate if you could explain the right answer
Thanks for the advice in advance,
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