Question
Question 8 :Bryan purchased a 3-month British pound futures contract for $1.2871/. The pound depreciated to a value of $1.1500/ at which time he closed
Question 8:Bryan purchased a 3-month British pound futures contract for $1.2871/. The pound depreciated to a value of $1.1500/ at which time he closed the pound futures position. If each pound futures contract is for an amount of 62,500, how much money did Bryan gain or lose from his speculation with pound futures?
a.Loss 8,568.75
b.Gain 8,568.75
c.Loss $ 8,568.75
d.Gain $ 8,568.75
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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
Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
