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The contract size for platinum futures is 50 troy ounces. Suppose you need 200 troy ounces of platinum and the current futures price is $870

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The contract size for platinum futures is 50 troy ounces. Suppose you need 200 troy ounces of platinum and the current futures price is $870 per ounce. How many contracts do you need to purchase? How much will you pay for your platinum? What is your dollar profit if platinum sells for $920 a troy ounce when the futures contract expires? What if the price is $820 at exfiration? Note: A negative value should be indicated by a minus sign. Do not round intermediate calculations. Round your answers to the nearest whole number. The contract size for platinum futures is 50 troy ounces. Suppose you need 200 troy ounces of platinum and the current futures price is $870 per ounce. How many contracts do you need to purchase? How much will you pay for your platinum? What is your dollar profit if platinum sells for $920 a troy ounce when the futures contract expires? What if the price is $820 at exfiration? Note: A negative value should be indicated by a minus sign. Do not round intermediate calculations. Round your answers to the nearest whole number

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