Question: Problem 3: Use the following cor futures quotes Com 5.000 Buses Contact Month Mar May July Sep Open 455.125 467.000 477.000 475.000 457.000 458.000 477.500

 Problem 3: Use the following cor futures quotes Com 5.000 Buses

Problem 3: Use the following cor futures quotes Com 5.000 Buses Contact Month Mar May July Sep Open 455.125 467.000 477.000 475.000 457.000 458.000 477.500 475.500 451.750 463.000 472.500 471.750 452.000 463.250 473.000 472 250 -2.750 -2.750 -2.000 -2.000 597 913 137.547 153.164 29.258 Suppose you buy 15 of the September com futures contracts at the last price of the day. One month from now, the futures price of this contract is 4.62125, and you close out your position. Calculate your dollar profit on this investment. (A negative value should be indicated by a minus sign. Do not round intermediate calculations. Round your answer to 2 decimal places.)

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