ACI Dealing Certificate (#25)

You bought a EUR 8,000,000 6x9 FRA at 4.50%. The settlement rate is 3-month (90-day) EURIBOR, which is fixed at 3.50%. What is the settlement amount at maturity?

You pay EUR 20,000.00
You receive EUR 20,000.00
You pay EUR 19,826.52
You receive EUR 19,826.52