Tony Begay, a currency trader for Chicago-based Saguaro Funds, uses the following futures quotes,

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, on the British pound

()

to speculate on the value of the pound. a. If Tony buys 5 June pound futures, and the spot rate at maturity is

$1.3981/,

what is the value of her position?b. If Tony sells 12 March pound futures, and the spot rate at maturity is

$1.4561/,

what is the value of her position?c. If Tony buys 3 March pound futures, and the spot rate at maturity is

$1.4561/,

what is the value of her position?d. If Tony sells 12 June pound futures, and the spot rate at maturity is

$1.3981/,

what is the value of her position?

a. If Tony buys 5 June pound futures, and the spot rate at maturity is

$1.3981/,

what is the value of her position?The value of Tony's position is

$enter your response here.

(Round to the nearest cent. Use a minus sign if value is negative.)b. If Tony sells 12 March pound futures, and the spot rate at maturity is

$1.4561/,

what is the value of her position?The value of Tony's position is

$enter your response here.

(Round to the nearest cent. Use a minus sign if value is negative.)c. If Tony buys 3 March pound futures, and the spot rate at maturity is

$1.4561/,

what is the value of her position?The value of Tony's position is

$enter your response here.

(Round to the nearest cent. Use a minus sign if value is negative.)d. If Tony sells 12 June pound futures, and the spot rate at maturity is

$1.3981/,

what is the value of her position?The value of Tony's position is

$enter your response here.

(Round to the nearest cent. Use a minus sign if value is negative.)

British Pound Futures, US$/pound (CME)					Contract = 62,500 pounds
Maturity	Open	High	Low	Settle	Change	High	Open Interest
March	1.4246	1.4268	1.4214	1.4228	0.0032	1.4700	25,605
June	1.4164	1.4188	1.4146	1.4162	0.0030	1.4550	809

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