1. A bank purchased "3 against 6" forward rate agreements (FRAs) for $1 million over a period of 3 months. From that date on, it will start 3 months later and end 6 months later. The agreed interest rate is 9% and the term of the forward interest rate agreement is set at 91 days. Three months later, when the forward rate agreement started, the market rate was 10 percent.

(1) Let A-- agreed interest rate, S = market interest rate on liquidation date, N-- contract amount, D -- forward interest rate agreed term. What is the formula for calculating the amount to be paid?

(2) Please calculate the amount of cash the bank will receive from the contract seller according to this formula. (Please keep two decimal places for the calculation results)

(3) What is the bank's net borrowing cost at the end of the forward agreement? (Please keep two decimal places for the calculation results)