Assume that the current term-structure of Euro-dollar interest rates (per annum) is as follows in the LIFFE, and answer the following questions. (Show how to get the answer)

Eurodollar rate

60-day 4.125%

90-day4.250%

150-day4.500%

180-day 4.550%

a) What is the theoretical Euro-dollar futures price quoted today with an expiration date in90 days?

b) What is the theoretical Euro-dollar futures price quoted today with an expiration date in60 days?

c) What are the bases for 90-day and 60-day futures respectively?