$3.$ An investor agreed to buy $1$ million Euros forward. The forward rate is $1\mathrm{.}15$ USD per Euro. If at

the time of maturity, the Euro is selling for $1\mathrm{.}08$ USD per Euro, the value of the contract to this

investor is: $\_\_\_\_\_\_\_$dollars.

$4.$ An investor agreed to sell $1$ million Euros forward. The forward rate is $1\mathrm{.}05$ USD per Euro. If at

the time of maturity, the Euro is selling for $1\mathrm{.}08$ USD per Euro, the value of the contract to this

investor is: $\_\_\_\_\_\_\_$dollars.