Futures are available on three-month T-bills with a contract size of $1 million. If you take a long position at 96.22 and later sell the contracts at 96.87, what is the total net gain or loss on this transaction?
Futures are available on three-month T-bills with a contract size of $1 million. If you take a long position at 96.22 and later sell the contracts at 96.87, what is the total net gain or loss on this transaction?
Chapter5: Currency Derivatives
Section: Chapter Questions
Problem 3BIC
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financial accounting
Transcribed Image Text:Futures are available on three-month T-bills with a
contract size of $1 million. If you take a long position at
96.22 and later sell the contracts at 96.87, what is the total
net gain or loss on this transaction?
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