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On October 5, 2020 the December 2020 Eurodollar futures is quoted at 98.20 and an investor takes a long position in one Eurodollar futures contract.
On October 5, 2020 the December 2020 Eurodollar futures is quoted at 98.20 and an investor takes a long position in one Eurodollar futures contract. On December 16, 2020 the December 2020 contract expires and the investors position is closed out. If the actual three-month Eurodollar interest rate on December 16, 2020 is 2.30 % per annum with quarterly compounding, what is the investors profit or loss?
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