1-

2- Use an example to explain what an interest rate swap is.

if you buy a nine-month T-bill future, you undertake to buy a $1 million three-month bill in nine months' time. Suppose that Treasury bills and notes currently offer the following yields: Months to Maturity 3 6 9 12 Annual Yield 7.0 7.5 7.9 8.9 What is the dollar value of a nine-month bill future? (Do not round Intermediate calculations. Round your answer to 4 decimal places.) Dollar value of a nine-month bill futuro