Calculate How Much a Futures Trader Who Enters into a 90-Day

question 2

Multiple Choice

Calculate how much a futures trader who enters into a 90-day bank bill futures contract on 20 September with a reported price of $93.25 will need to pay on settlement date (30 September) ,if the face value of the underlying bill is $1 000 000.

• A) $857 310.63
• B) $983 628.65
• C) $984 822.93
• D) $998 338.38

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