The following are Chase Bank's direct spot and forward markets quotes for EUR right now $(\frac{1}{1}\frac{?}{xx}),$ and expected quotes three months later $(\frac{4}{1}\frac{?}{xx}),$ and six months later $(\frac{7}{1}\frac{?}{xx}).$

$\backslash$table$[[,\backslash$table$[[$Current$],[$Quotes$]],$Expected Quotes$],[,\frac{1}{1}\frac{?}{xx},\frac{4}{1}\frac{?}{?}$ XX$,\frac{7}{1}\frac{?}{?}$ XX$],[$EUR Spot,$1\mathrm{.}2075,1\mathrm{.}2191,1\mathrm{.}2943],[3$ Month Forward,$1\mathrm{.}2440,1\mathrm{.}2560,1\mathrm{.}3334],[6$ Month Forward,$1\mathrm{.}2627,1\mathrm{.}2748,1\mathrm{.}3534]]$

On $1/1/$XX$,$ Dell bought a $3-$month forward contract of EUR $1\mathrm{.}000\mathrm{.}000$ from Chase. Based on this contract, on $\frac{7}{1}\frac{?}{xx},$ Dell will pay $$ to Chase, Chase will pay $$ to Chase.

USD $1,219,100$; EUR $1,000,000$

EUR $1,000,000$; USD $1,244,000$

EUR $1,000,000$; USD $1,219,100$

USD $1,244,000$; EUR $1,000,000$