A trader uses 3 -month Eurodollar futures to lock in a rate on $7.8 million for six months. How many contracts are required? 7 8 78 0.78 Assume an investor has $5 million to invest and fears that interest rates will fall in the next 3 months. If the investors enters into Eurodollar futures at 94.78 and closes out at 92.33, what is the gain or loss on the futures position per contract? 1 basis point is equal to $25. A gain of $6,125 A loss of $6,125 A gain of $245 A loss of $245 Assume a company has issued $4 million and fears that interest rates will increase in the next 3 months. If the issuer enters into Eurodollar futures at 95.68 and closes out at 97.38, what is the total gain or loss on the futures position? 1 basis point is equal to $25. A gain of $17,000 A loss of $17,000 A gain of $4.250 A loss of $4,250