What is the closing value on this day for one March futures contract on ethanol?
Ethanol - 32,000 U.S.gallons: u.S.dollars and cents per gallon $$\begin{array} { | l | l | l | l | l | }
\hline & \text { Open } & \text { High } & \text { Low } & \text { Settle } \
\hline \text { Mar } & 1.700 & 1.706 & 1.700 & 1.704 \
\hline
\end{array}$$
A)$54,400
B)$54,528
C)$59,416
D)$1.703 million
E)$1.704 million

Question

What is the closing value on this day for one March futures contract on ethanol?
Ethanol - 32,000 U.S.gallons: u.S.dollars and cents per gallon $$\begin{array} { | l | l | l | l | l | } 
\hline & \text { Open } & \text { High } & \text { Low } & \text { Settle } \
\hline \text { Mar } & 1.700 & 1.706 & 1.700 & 1.704 \
\hline
\end{array}$$
A)$54,400
B)$54,528
C)$59,416
D)$1.703 million
E)$1.704 million

Quizplus · Accepted Answer

Contract value = 32,000 × $1.704 = $54,528

What Is the Closing Value on This Day for One