Question: The contract size for platinum futures is 5 0 troy ounces. Suppose you need 4 5 0 troy ounces of platinum and the current futures

The contract size for platinum futures is 50 troy ounces. Suppose you need 450 troy ounces of platinum and the current futures price is $820 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 $870 a troy ounce when the futures contract expires? What if the price is $770 at expiration?

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