A company wishes to hedge against an increase in future borrowing costs by entering into a 3 × 12 FRA. The current term structure for LIBOR is given below: Term (Days) Interest Rate (%) 30 days 5% 90 days 5.15% 270 days 5.60% 360 days 5.85% For Question 25 I am getting -2138.66 while their answer is -2195.14.

For your reference, the original FRA rate calculated is 6.01% 25. Suppose 45 days later, the 45-day Euribor is 5.55% and the 315-day Euribor is 5.95%. Given the notional principal of $10m, the value of the long position is closest to: A. -2,250 B. 5,731.34 C. -2,195.14

Using 8 decimals I can get the answer. Completely ridiculous that they make you go out that far without mentioning it. Remembering these calcs is tough enough.