You need to borrow EUR 50,000,000 for a period of 6 months (182 days) starting in three months (90 days) time and you are considering buying an FRA to hedge the borrowing cost. FRA market quotes obtained:
3 v 6 4.71% - 4.76%
3 v 9 4.83% - 4.88%
The settlement rate is 4.80%. What is the best estimate of the FRA compensation amount that the company would pay or receive in three months’ time?

求解之~