I have a question on forward rate calculation done in Lignum (2012).
In the answer sheet, it says forward rate is 145.23 (142 × (1 + (0.085 + 0.0025)/3)/(1 + (0.022 – 0.0030)/3) = 145.23) But when I recalculate it, I get 145.2219. So do I have to round up to smallest tick? instead of rounding down?