1. The following table contains price quotes for 3-month Euro-dollar futures Date Quote 97.12 11/01 11/02 97.23 12/21 98 a. Suppose you buy a contract ($1 million) on 11/01, how much do you gain or lose on 11/02? b. The 3-month Euro-dollar futures contract will expire on 12/21 and assume the actual LIBOR on that day is 2%, what interest rate do you lock in when you buy this 3-month Euro-dollar futures contract on 11/01? Show the details and steps of calculation of why you lock into that rate. (10 points) 1. The following table contains price quotes for 3-month Euro-dollar futures Date Quote 97.12 11/01 11/02 97.23 12/21 98 a. Suppose you buy a contract ($1 million) on 11/01, how much do you gain or lose on 11/02? b. The 3-month Euro-dollar futures contract will expire on 12/21 and assume the actual LIBOR on that day is 2%, what interest rate do you lock in when you buy this 3-month Euro-dollar futures contract on 11/01? Show the details and steps of calculation of why you lock into that rate. (10 points)