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(a) One month ago, an investor entered into a short position in three December Eurodollar futures, and the price was quoted at 96, what is

  1. (a) One month ago, an investor entered into a short position in three December Eurodollar futures, and the price was quoted at 96, what is the value of one contract at that time? What is the Eurodollar futures rate corresponding to a futures price quote of 96?

(b)Today, the December futures price is quoted at 97.8. What is the gain/loss of the investor?

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