Finance cf ..Please calculated and show the work tqvm

Question 2 Jerry Ltd. plans to raise approximately 15 million in short-term funding through the issue of 90-day bank bills in three months' time. The business does not have a view on what is likely to happen to interest rates during the next three months, but it would be very satisfied i it could obtain its funding at the rate prevailing at present. (a) Compare the hedging characteristics of options and futures. 8 marks) (b) Distinguish between hedgers and speculators. Show how a hedger could use the 90-day speculator may use the same futures contract in an attempt to make a profit.(8 marks) (d Using the following data, explain how bank-accepted bills futures contracts can be usesd bank-accepted bill futures contracts to hedge interest-rate uncertainty. Show how a to hedge the interest-rate risk exposure. Today's data: (Current 90-day bank bill rate 7.5% per annum (ii) Bank-accepted bills futures contract 92.25 Data in three months (i) 90-day bank bill rate 9.755 per annum (iv) bank-accepted bills futures contract 90.50 (12 marks (d) What of funds as a result of having hedged through What would the cost of funds have been had the hedge not been put Question A funds approxima end of wh to receive since the is the effective cost n your answer, showing your calculations (TOTAL 40