What Is the Difference Between This Day's High and Closing

question 105

Multiple Choice

What is the difference between this day's high and closing prices for one 10-year Treasury note futures contract? Treasury note, $100,000, pts and one-half of 1/32 of a point.
$\begin{array}{ccccc}\text { Contract } & \text { Open } & \text { High } & \text { Low } & \text { Close } \\\text { Jun, } 10 \mathrm{Yr} . \text { Treasury note } & 119^{\prime 25} & 119^{\prime} 07 & 117^{\prime} 80 & 118^{\prime} 08\end{array}$

• A)$835.50
• B)$968.75
• C)$1,000.00
• D)$1,171.88
• E)$1,220.75

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Definitions:

Implied Warranty

An implied warranty is a legal assumption in sales that the goods sold meet certain quality and reliability standards, even if not expressly stated.

Express Warranty

A clearly stated promise or guarantee made by a seller that a product will meet certain standards of quality and reliability.

Merchantability

An implied warranty that goods for sale are reasonably fit for the general purpose for which they are sold.

Implied Warranty

A legal assumption that the goods sold are fit for their intended purpose, even if not explicitly promised by the seller.