ou are given the following quote for Eurodollar futures prices on Wednesday, 10/27/21:

Month	Open	High	Low	Last	Change	Settle	Estimated Volume	Prior Day Open Interest
NOV 16	99.8475	99.8475	99.8425	99.8450	-.0075	99.8425	9,629	214,191
DEC 16	99.8150	99.8150	99.8050	99.8100	-.0100	99.8050	117,238	1,322,830
JAN 17	99.8250	99.8250	99.8150	99.8200	-.0100	99.8150	4,908	92,531

a) John Jones wants to hedge a floating rate interest payment on a $2 million loan. The next quarterly interest payment is determined according to a 3-month LIBOR on December 1, 2021. How could he use Eurodollar futures to do it?

b) If he entered into the futures position at Monday close of 99.81, what would be his cash flow due to marking to market on Tuesday and on Wednesday?

c)What is the value of his futures position on Monday?

d)If on December 1, 2021 the 3-month LIBOR turns out to be 0.32% p.a., Eurodollar futures price 99.73 what would be the total cost to John Jones taking into account gains/losses on his hedge, plus the interest payment (disregard time value of money)?