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A company has an exisiting $456838 promissory note facility, which it will roll over in 90 days. It is concerned that interest rates will will
A company has an exisiting $456838 promissory note facility, which it will roll over in 90 days. It is concerned that interest rates will will rise before the roll over date and enters into a 90 day bank accepted bill futures contract at 92.50. Three months later, the company closes out its future position at 97.80. Using the following data, calculate the profit or loss position of futures transactions.
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