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77. The 3-month Eurodollar futures contract trades on the Chicago Mercantile Exchange (CME) and is the most popular interest rate futures in the United States.

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77. The 3-month Eurodollar futures contract trades on the Chicago Mercantile Exchange (CME) and is the most popular interest rate futures in the United States. This contract settles in cash, and the minimum price change is one "tick" which is a price change of one basis point, or $25 per $1 million contract. If the quoted price for the June 2009 Eurodollar futures contract is 96.89, the value of one contract is closest to: A. $968,900 B. $970,000 C. $984,450 D. $992,225

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