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A $100,000 par value T-bond futures contract trades at $98,700. T-bond rates increases by 100 basis points from 7.0% to 8.0%. The T-bond has a
A $100,000 par value T-bond futures contract trades at $98,700. T-bond rates increases by 100 basis points from 7.0% to 8.0%. The T-bond has a duration of 9 years. What is the change in the value of T-bond futures contract?
A. $8,385.98
B. -$8,301.97
C. -$9,504.81
D. -$8,385.98
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