On january 8 2016 a bank wants to lock in the 3-month, Financial Management

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On january 8 2016 a bank wants to lock in the 3-month

On January 8, 2016, a bank wants to lock in the 3-month interest rate starting on June 20, 2017. Currently, 6/2017 Eurodollar futures price is 94.93 and 9/2017 Eudollar futures price is 97.55. What is the interest rate that the bank can lock in? (Margin of error: +/- 0.01%)

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Financial Management: On january 8 2016 a bank wants to lock in the 3-month

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