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#15) A Eurodollar future contract for 3 months starting in one year is currently quoted at 94.98. What is the price of the Eurodollar today?

#15) A Eurodollar future contract for 3 months starting in one year is currently quoted at 94.98. What is the price of the Eurodollar today? Remember Eurodollars have a notional principle of $1,000,000.

PLEASE SHOW ALL FORMULA & WORK & EXPLANATIONS -----All rates are per annum with continuous compounding unless otherwise stated

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