4. Calculate the invoice price for a T-Bond futures contract with quoted price of 97-16 where the conversion factor of the cheapest-to-deliver bond is .9900 and the accrued interest on the settlement date will be $800.

5. You manage a $10 million bond portfolio and would like to reduce the portfolio duration from 8 to 6.

The price of a T-bond futures contract is $111,000 and the duration of the T-Bond is 12.0. What futures position achieves the target duration?

4. Calculate the invoice price for a T-Bond futures contract with quoted price of 9716 where the conversion factor of the cheapest-to-deliver bond is .9900 and the accrued interest on the settlement date will be $800. 5. You manage a $10 million bond portfolio and would like to reduce the portfolio duration from 8 to 6 . The price of a T-bond futures contract is $111,000 and the duration of the T-Bond is 12.0 . What futures position achieves the target duration