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Use Figure 23.7. Suppose the LIBOR rate when the first listed Eurodollar contract matures in December 2019 is 3.2%. What will be the profit or

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Use Figure 23.7. Suppose the LIBOR rate when the first listed Eurodollar contract matures in December 2019 is 3.2%. What will be the profit or loss to each side of the Eurodollar contract? (Do not round intermediate calculations and round final answer to 2 decimal places. Enter the amount as positive value.) Gain Contract High hilo Low Open interest Open Settle Chg Eurodollar (CME)-51,000,000; pts of 100% Jan 97.2400 97.2450 97.2225 97.2275 -0.0125 256,596 March 97.2900 973000 797.2750 97.2950 0.0050 1,463,124 June 97.2650 97 2900 797.2550 97.2800 0.0100 1.244.678 Dec 97 2900 97.3200 797.2700 97.3050 0.0100 1.719,535 Figure 23.7 Eurodollar futures, January 9, 2019 Source: The Wall Street Journal, January 10, 2019

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