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Calculate the fair total forward price

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Sarah, a portfolio manager plans to buy 1-month Treasury bills in 2 months. The total face amount of securities she plans to buy is $15 million. The current price for 3-month Treasury bills is $991,286 per $1 million face amount. The current, effective, annual risk-free rate over the 2 months is 3.24 percent. Calculate the fair total forward price.

Round the answer to two decimal places.

Reference no: EM133122075

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