Calculate the Dollar Price Implicit in a Bank-Accepted Bill Futures

question 9

Multiple Choice

Calculate the dollar price implicit in a bank-accepted bill futures contract with a face value of $1 000 000,a reported price of $95.00 (the price of the trade) ,and 90 days to maturity.

• A)$998 252
• B)$952 381
• C)$960 242
• D)$987 821

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