Suppose a CBOT 10-Year U

question 20

Multiple Choice

Suppose a CBOT 10-year U.S.Treasury note futures contract has a quoted price of 88-30.If annual interest rates go down by 1.00 percentage point,what is the gain or loss on the futures contract? (Assume a $1,000 par value,round the new interest rate to 4 decimal places when written as a decimal,and round the change in price up to the nearest whole dollar.)

• A)$63.00
• B)$65.00
• C)$67.00
• D)$69.00
• E)$71.00

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