Suppose that the value of the S&P 500 stock index is 3,600.

Required:

If each E-mini futures contract (with a contract multiplier of $50) costs $28 to trade with a discount broker, how much is the transaction cost per dollar of stock controlled by the futures contract?

Note: Do not round your intermediate calculations. Round your answer to 5 decimal places.

If the average price of a share on the NYSE is about $47, how much is the transaction cost per typical share controlled by one futures contract?

Note: Do not round your intermediate calculations. Round your answer to 5 decimal places.

For small investors, a typical transaction cost (including the bid-ask spread) for direct trades in stocks might be about 8 cents per share. How many times the transactions costs in futures markets is this?

Note: Do not round your intermediate calculations. Round your answer to 2 decimal places.