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4. Suppose a $100,000 T-Bond futures contract whose underlying bonds duration is 6 years and has a current market price of $98,765. Market interest rates are 3 percent today but are expected to rise to 4 percent. What is the expected change in this futures contract's market price as a result of this change in interest rates?

5. ABC Banks asset portfolio has an average duration of 4 years and its liability portfolio has an average duration of 3 years. The bank has $500 million in total assets and $400 million in liabilities. ABC Bank is thinking about hedging its risk by using a Treasury bond futures contract whose underlyings duration is 5 years and has a price of $97,650. How many futures contracts will it need to hedge its risk?