An investor enters into a short forward contract to sell 100,000 British pounds for U.S. dollars at
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An investor enters into a short forward contract to sell 100,000 British pounds for U.S. dollars at an exchange rate of 1.9000 U.S. dollars per pound. How much does the investor gain or lose if the exchange rate at the end of the contract is
(a) 1.8900 and
(b) 1.9200?
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