单选题 The settlement price of a deliverable forward contract at 6 percent on a $1 million 90-day Treasury bill would be:
  • A. $940000.
  • B. $6000.
  • C. $985000.
【正确答案】 C
【答案解析】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.