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Hello Sir,
i was doing a MCQ that says “3 months interest rate is 5.75% pa” and the question asked to calculate 3 months forward rate. I interpreted it as the rate for 3 months but it was the annual rate according to the marking. Im very confused with the wording. Please help me.
Best regards,
ROJID Nayaz.You have clearly not watched my free lectures, because I explain this very point.
Interest rates are always quoted as annual rates in both exams and in ‘real life’ (and that is what the p.a. means anyway – per annum).
I do suggest that you watch the lectures. They are a complete free course for Paper F9 and cover everything needed to be able to pass the exam well.
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