Answer:
The customer will pay, disregarding commissions and accrued interest $9,546.88 .
Explanation:
According to the given data we have that A customer buys 10M of the notes "10 M" means that the customer is buying $10,000 par value of the notes-
The Treasury Note is quoted at 95-11 - 95-15
In this case A customer will buy at ask price, which is 95 and 15/32 nds = 95.46875%
Therefore, 95.46875% of $10,000 par = $9,546.88
The customer will pay, disregarding commissions and accrued interest $9,546.88 .
