Forwards Question 1 CFAI

In the first question in the Forwards chapter we are asked to find the value of the swap made at inception, the underlying price is 1000, the interest rate is 6.75%, and the time is 1. The answer is So -F(0,T)/(1+R). My question is, isn’t the value of a forward at inception considered to be zero? I thought the book was very explicit about that, but it answers the question very differently…

please read - this is an off market one.

Ooooh. Yes, I see it now, thanks a lot.