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Help me please! In the question, the financial institution’s FRA only offered a 4-11, 2.85%-2.35% spread, if the acutal rate was 3.75% then I think the received from the financial institution should be (2.85%*$14m*7/12)? and the rest (0.9%*$14m*7/12) should only be the loss of the company?
I think you are referring to the wrong paper. FRA’s are not examinable in Paper FA, and there is no example as you describe in the BPP Paper FA Revision Kit.
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