问题
单项选择题
The settlement price of a deliverable forward contract at 6 percent on a $1 million 90-day Treasury bill would be:
A．
| A. $940000. |
B．
| B. $6000. |
C．
| C. $985000. |
答案
参考答案：C
解析：Treasury bills are quoted as a discount from face value, which is annualized based on a 360 day year. (90/360) × 6% = 1.5%, so the contract price of the $1 million bill is (1 -0.015) × 1000000 = $985000.