Intro A forward rate agreement (FRA) pays 4.9% interest (with semiannual compounded) for 6 months on a principal of $170 million. Consider the following annual interest rates. The forward rates are for the 6-month period ending t years from now, where t is given in the first column: Risk-free 6-month forward rate compounding) Maturity spot rate (years) (with continous (with semiannual compounding) 0.5 0.037 1 0.04 0.0435 1.5 0.044 0.0527 2 0.051 0.0733 Part 1 Attempt 2/3 for 10 pts. What is the value of the FRA to the payer of the 4.9% if the FRA covers the period from 1 to 1.5 years (in $)? 0+ decimals Submit