Question: 11. The payoff from a long position in a forward contract on the settlement date is the difference between the spot price of the underlying

11. The payoff from a long position in a forward contract on the settlement date is the difference between the spot price of the underlying asset at the maturity of the forward contract and the forward price. For example, if you are long a forward contract to purchase an asset at $100, your payoff at the settlement date would be as follows:

Spot Price	Forward Price	Payoff
$80	$100	$20
90	100	-10
100	100
110	100	10
120	100	20

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