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Implied annual yield, Forward rate

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A Treasury bond futures contract has a settlement price of 89-8. What is the implied annual yield?

Suppose that 1 Swiss franc could be purchased in the foreign exchange market for 60 U.S. cents today. If the franc depreciated 10% tomorrow against the dollar, how many francs would a dollar buy tomorrow?

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The solution calculates implied annual yield on a Treasury bond futures contract and the Forward price of Swiss franc.

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1) A Treasury bond futures contract has a settlement price of 89-8.  What is the implied annual yield?  Book answer: rd=5.96%

Please check the question / answer from your book
For an implied annual yoeld of 5.96% the settlement price will have to be 100-14

Size of futures contract (dollars per contract) = $100,000

Settle price on futures contract as quoted = 89 and 8 32nds
Note that the price is quoted as a percent of par, ...

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