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CFAI Vol 5 Page 187 Example 2

Anyone understands that formula that is used to get the 3-month libor? I am beyond confused! Thanks.

This is confusing for me too. I have been meaning to figure this out myself but to no avail.
First of all, where are the Eurodollar futures prices coming from: June - 96.09 and Sept. - 96.13. What is the difference between this price and the prices given in the next page in the table?

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