Question: Using the quotations in Exhibit 7 . 3 , note that the September 2 0 1 6 Mexican peso futures contract has a price of

Using the quotations in Exhibit 7.3, note that the September 2016 Mexican peso futures contract has a price of $0.05481 per MXN. You believe the spot price in September will be $0.056 per MXN. Calculate your anticipated profits (or loss) measured in $ (keep one decimal), assuming you take a long position in three contracts (Note that the contract size of one MXN contract is MXN500,000). When you enter a positive number, it means a profit. If you enter a negative number, it means a loss.

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