post 2:

You essentially sliced an annual 5% Libor to 154:365=0.42. So if you have a 1000$ notional earning 5% annual, in 154 it will collect 21 dollar. That is what slicing percents (or rate) is. In FRA formula we are given 1 + (rate(Days/360))

I feel the need to single this out because on a side note unrelated to the primary topic, it doesn't actually seem like you understand what a FRA actually is. If I enter into a $1000 notional 6x9 FRA with you today, no cash flows have actually occurred. No interest is earned. All it states is that I have contracted with you to borrow 1000$ at a certain implied forward rate. This implied rate is the bootstrapped 3m rate at which I borrow money, starting 6 months from now. If the actual 3 month rate 6 months from today is the same as the implied fwd rate, then the value of the contract is essentially zero (because I can go lend money risk free at the same rate as what I agreed 6 months ago to borrow from you).

You really ought to know the difference between an FRA, a rate swap agreement, and a loan/bond. You seemed to have bastardized/confused a loan with a FRA in the same sentence (by mentioning "collect 21 dollar" and FRA formula in the same sentence).

There isn't anything in this comment that is different from what I have stated above.

Yes there is. I'm concerned with how you got this far in life if you can't comprehend why by now.

I have to ask again. Since you commented on wrongness of it before, I am asking again. What is it that you found wrong in it? I am reading your comments and cannot find anything different from what I have said.

If you can't see it by now, then your logical comprehension is beyond hope.