Question: 1. What is the difference between a long forward position and a short forward position? 2. An investor enters into a short-forward contract to sell

1. What is the difference between a long forward position and a short forward position?

2. An investor enters into a short-forward contract to sell 100,000 British pounds (GBP) for U.S. dollars at an exchange rate of 1.5000 USD per pound. If the contract is held to expiration how much does the investor gain or lose if the exchange rate at the end of the contract is (a) 1.49000 and (b) 1.5200?

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