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A bank has entered into a 3 x 6 forward rate agreement to receive a fixed rate of 3.35 percent on $12 million in six months. If the applicable rate in three months is 3.62 percent, the cash flow associated with this forward rate agreement for the bank would be closest to: A. $16,200. B. $32,400. C. –$8,100. D. –$32,400. |