Flok

yes, i also think the schweser formula is more logic. but i tried to calculate the example 4, book page 37 and for 4c i calculate the following:
FRA (180)= 6.19%
( 1+ (0.0595 *(190/360))/ (1+ ( 0.0545* (10/360)) = 1.0299 which equals a annual rate of 5.97%. Because we are doing this for 180days I calcualte the following
0.5*0.0597 - 0.5*0.0619 = -0.0011.
Whichs is the same result as CFAI does. But following schweser (following the procedure on page 26 in schweser)I would have to multiply -0.0011 * notional amount and discount this to day X (the day where the forward is valued). And this way it wouldn’t be the same result.
Because 20mio *-0.0011 and this discounted with the 5.9% rate (190day) just doesn’t equal the EURO -22’000 in the CFA book!
sorry but i really want to understand this!!
is it really just rounding and is it right that with the schweser method we have to discount the notional amount to the day x.