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16. The duration of a 3-month Treasury futures contract is 4.89 years. What is the...

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16. The duration of a 3-month Treasury futures contract is 4.89 years. What is the duration of the underlying Treasury note? A. 5.24 years OB. 4.38 years C.5.12 years D. 4.64 years 18. Which one of the following statements is true regarding futures contracts ? A. The seller of a futures contract has the option to deliver cash in an amount equal to the contract value in lieu of the underlying asset. B. Futures contracts generally grant the buyer the option to accept only a portion of the contract. C. Cost and convenience are the two key considerations when establishing the settlement procedures. D. Futures prices are generally set equal to the spot price on the delivery date

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