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Suppose a Hypothetical CBOT 7-Year U

question 4

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Suppose a hypothetical CBOT 7-year U.S. ,semiannual payment,6% coupon Treasury note futures contract has a quoted price of 88-300.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. ) Do not round other intermediate calculations.
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Definitions:

Neurons Together

An expression referring to how neurons function collectively in networks to process and transmit information in the nervous system.

Nucleus

The central and most important part of an object, movement, or group, forming the basis for its activity and growth, or in biology, the membrane-bound organelle in a cell that contains DNA.

Soma

In biological terms, it refers to the body of an organism as distinct from its reproductive cells, or in cellular anatomy, the cell body of a neuron.

Neuron

A specialized cell that conducts impulses through the nervous system.

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