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JP Morgan Bank wants to use 30-day Eurodollar futures contracts to hedge the roll-over of a 1-year, two million dollars loan. How many contracts should

JP Morgan Bank wants to use 30-day Eurodollar futures contracts to hedge the roll-over of a 1-year, two million dollars loan. How many contracts should the bank buy?

a. 4 contracts

b. 14 contracts

c. 20 contracts

d. 24 contracts

e. 28 contracts

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