The 3-month Eurodollar futures price is quoted as 96.5 for a contract between 5.5 and 5.75 years in the future The standard deviation of the changes in short-term interest rates in 1 year is 1.5%.
Attempt 4/5 for 10 pts. What is the forward rate in an FRA for the period between 5.5 and 5.75 years from now?