Calculate How Much a Trader,who Enters into a 90-Day Bank

question 59

Multiple Choice

Calculate how much a trader,who enters into a 90-day bank bill futures contract on 20 June with a reported price of $94.00,will need to pay on settlement date (30 June) if the face value of the underlying bill is $500 000.

• A)$497 289
• B)$499 179
• C)$500 000
• D)$492 711

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