You buy one Eurodollar July 2022 future, which is quoted at 98.7. What will be your profit if LIBOR at maturity is 2%?

Hint:

Recall, for Eurodollar futures, 1 basis point (i.e., 0.01%) is equivalent to 0.0001 $1 90 360 = $25 per contract.

The move is -0.7 (from 98.7 to 98) or ??? basis points (bps).

Therefore, = $25 ( ) = $25 (? ? ? ) = ? ? ?