请问这道题题干不是说mrr是90-day based吗？那为什么计算每期pmt的时候还要➗4？

问题如下：

The price of the FRN is closest to:

选项：

98.804

99.804

100.804

解释：

B is correct. The FRN is priced at 99.804 per 100 of par value. Using the information provided, the periodic PMT is equal to

The assumed discount rate per period is equal to 0.875%.

To value this FRN, take the present value of each cash flow using the discount rate per period. The FRN is priced at 99.804 per 100 of par value.