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Question
You purchase a futures contract for September delivery (September 15th) of 62,500 pounds on March 15th. The pound futures exchange rate is $1.65 per pound. The bank has a margin requirement of 2 percent.
When the futures contract matures in September the spot rate is $1.67 per pound. How much will you have to pay when the futures contract matures?
a. $103,125
b. $104,375
c. $105,187.5
d. $106,462.5
Answer
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Related questions
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