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(Solution Download) The contract size for platinum futures is 50 troy ounces. Suppose you need 500 troy ounces of platin


 

 

 

 

 

 

 

The contract size for platinum futures is 50 troy ounces.

 

Suppose you need 500 troy ounces of platinum and the current

 

futures price is $1,320 per ounce. How many contracts do you need

 

to purchase? How much will you pay for your platinum? What is your

 

dollar profit if platinum sells for $1,350 a troy ounce when the

 

futures contract expires? What if the price is $1,265 at

 

expiration? (Negative amounts should be indicated by a

 

minus sign. Do not round intermediate calculations. Round your

 

answers to the nearest whole number. Omit the "$" sign in your

 

response.)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  
  Contracts to

 

purchase

 

  

  Purchase price

 

$   

  Dollar profit at

 

$1,350

 

$   

  Dollar profit at

 

$1,265

 

$   

 


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