#16) Using the information from question 15, assume you took a long position (lender) and the price has moved to 95.05. How much has your position gained or lost?

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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? Remember Eurodollars have a notional principle of $1,000,000.

A. $700

B. $175

C. $-175

D. $-350

E. $-700

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