Futures

a.) What is the implied nominal interest rate on a 10-year U.S. T-notes ($100,000) futures contract that settled at 100'28 (or 100-280)? Assume a 6% semiannual coupon. (Round your answer to two decimal places.) _________%

b.) If interest rates increased by 2%, what would be the contract's new value? Use rounded rates from the previous question in your calculations. (Round your answer to two decimal places.) $ _________