From the 2006 CFAi exam… Page 123 book 6 question 12: The answer has the exponent (244/365) for T…but doesn’t the footnote in the question already say the rates are annualized??? wtf am I missing here?

where’s the love?

rates are annualized (meaning it is a 1 yr rate) but we still need to only value the derivative for 244/365 days right…

Wow. Totally misinterpreted the footnote – its only there to F with you. Thanks.