Question: Suppose a CBOT 10-year U.S. Treasury note futures contract has a quoted price of 89-09. What is the implied annual interest rate inherent in this

Suppose a CBOT 10-year U.S. Treasury note futures contract has a quoted price of 89-09. What is the implied annual interest rate inherent in this futures contract? No coupon rate given in the question. Possible answers are:

6.81%

7.17%

7.55%

7.92%

8.32%

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