What is payment if six-month libor is given


Two months from today you plan to borrow $3 million for 6 months at LIBOR. You hedge your interest rate risk with a euro dollar futures contract priced at 93.6. If settled in arrears, what is your payment if the 6-month LIBOR is 2.5% in two months?

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Finance Basics: What is payment if six-month libor is given
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