Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please Answer: 1. What was Hilary's profit? (Round to the nearest Dollar) 2. What did Hilary put in a initial deposit? 3. What was her
Please Answer:
1. What was Hilary's profit? (Round to the nearest Dollar)
2. What did Hilary put in a initial deposit?
3. What was her return on invested capital? (Round to 2 decimal places and show as a %)
Hillary considers herself a shrewd commodities investor. She bought a May cotton contract (50,000 pounds) at $0.6582 a pound, and later sold it at $0.7333 a pound. What were her profit and her return on invested capital if her initial margin was $1,000 and the size of a cotton futures contract is 50,000 pounds of cotton? Hillary's profit is $ (Round to the nearest dollar.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started