Just something to note, if you are working out values of FRA's be very careful with rounding (you are working out the difference between two large numbers). In the above example, the answer working to 3 d.p.'s on intermediary steps was -$10,231 when the true answer working to full accuracy was -$10,264. It kind of tripped me up as I used the formula approach to the question - I was quite surprised to find the difference was purely a rounding issue.
