Use the following wheat futures quotes to answer this question.

-What price would you have paid today per bushel for the Mar 08 wheat futures contract if you bought the contract at the final price of the day?
A) $10.8010
B) $10.8025
C) $10.9320
D) $10.9325
E) $11.0960

Question

Use the following wheat futures quotes to answer this question.
 
-What price would you have paid today per bushel for the Mar 08 wheat futures contract if you bought the contract at the final price of the day?
A) $10.8010 
B) $10.8025 
C) $10.9320 
D) $10.9325 
E) $11.0960

Quizplus · Accepted Answer

The final price for the Mar 08 wheat futures contract is given as $10.9350 per bushel. However, the quote has four decimal places and the question asks for the price to be rounded to the nearest cent. Rounding $10.9350 to the nearest cent gives $10.93. Therefore, the price you would have paid today per bushel for the Mar 08 wheat futures contract if you bought the contract at the final price of the day is $10.93, which matches option D.

Use the Following Wheat Futures Quotes to Answer This Question