A 3-5 Forward Rate Agreement ____________
a. starts in 5 months, and lasts for 3 months (it is settled in 2 months’ time).
b. starts in 3 months, and lasts for 5 months (it is settled in 8 months’ time).
c. starts in 5 months, and lasts for 3 months (it is settled in 5 months’ time)
d. starts in 8 months, and is settled between 3-5 months later.
e. starts in 3 months, and lasts for 2 months (it is settled in 5 months’ time).
