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| The following data applies to a forward rate agreement that settles in 60 days: It is based on 180-day LIBOR The notional principal amount is $15 million It calls for a forward rate of 6.5% In 30 days, 180-day LIBOR will be 6.2% In 60 days, 180-day LIBOR will be 7.0% In 180 days, 180-day LIBOR will be 7.5% The short’s cash payment at settlement is closest to: A) $37,500. B) the short will not have to make a payment. C) $36,232. |