1. 2. 3. STEP: 2 of 3 Suppose that Valerie forecasts that interest rates will decrease over the next month, so she calls a broker and purchases40 futures contracts on Treasury bonds that have settlement dates for three months from now. If the futures contracts on Treasury bonds represent $100,000 of par value, and the market value of the contract is 92-00, then Valerie will have invested in the futures contracts. Suppose the market value of the contracts after one month is 90-00, and Valerie decides she wants to offset her current position. If she wants to offset her position, Valerie would futures contracts, resulting in a total of (Hint: Assum were no transaction costs and that the values you enter are all positive numbers.) purchase sell Grace Step TOTAL SCORE: 0.2514 to complete the step and unlock the next 1. 2. 3. STEP: 2 of 3 Suppose that Valerie forecasts that interest rates will decrease over the next month, so she calls a broker and purchases40 futures contracts on Treasury bonds that have settlement dates for three months from now. If the futures contracts on Treasury bonds represent $100,000 of par value, and the market value of the contract is 92-00, then Valerie will have invested in the futures contracts. Suppose the market value of the contracts after one month is 90-00, and Valerie decides she wants to offset her current position. If she wants to offset her position, Valerie would futures contracts, resulting in a total of (Hint: Assum were no transaction costs and that the values you enter are all positive numbers.) purchase sell Grace Step TOTAL SCORE: 0.2514 to complete the step and unlock the next