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Jin expects the to appreciate in the future. Expectation: The spot rate in three months: $1.25/ Available futures contract: Futures contract on pound @ $1.23/

Jin expects the to appreciate in the future.

Expectation: The spot rate in three months: $1.25/ Available futures contract: Futures contract on pound @ $1.23/ Terms => Three months Size: 200,000

If Jin creates the futures contract, how much can Jin make?

a. $4,000 b. $4,000 c. $3,000 d. $3,000

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