what interest rate product/calculation?

do you figure out interest at end of period and then discount it back to start of period to settle with counter-party? i remember this quite well (a few pops probably when i did it though) but i can’t find it (haven’t checked absolutely everywhere)

i’m also a little worred it might be curriculum and not in schweser. i remember thinking you seem to discount back to get the “contracted payment”, not just to get “the value”. although the text (i am thinking schweser) was vague about that.

someone told me it’s FRA’s. can’t find the page numbers in the index

i think i’m looking for current value/risk of FRA which is in risk section…