You purchased four April futures contracts on gold when the price quote was 692.5.Given today's closing prices as shown in the table,what is your current profit or loss?
Gold - 100 troy oz.: u.S.dollars and cents per troy oz. $$\begin{array} { | l | l | l | l | l | }
\hline & \text { Open } & \text { High } & \text { Low } & \text { Settle } \
\hline \text { Jan } & 739.7 & 739.7 & 729.2 & 729.2 \
\hline \text { Apr } & 746.9 & 752.9 & 731.2 & 745.0 \
\hline
\end{array}$$
A)$18,600
B)$21,000
C)$21,800
D)$23,680
E)$26,080

Question

You purchased four April futures contracts on gold when the price quote was 692.5.Given today's closing prices as shown in the table,what is your current profit or loss?
Gold - 100 troy oz.: u.S.dollars and cents per troy oz. $$\begin{array} { | l | l | l | l | l | } 
\hline & \text { Open } & \text { High } & \text { Low } & \text { Settle } \
\hline \text { Jan } & 739.7 & 739.7 & 729.2 & 729.2 \
\hline \text { Apr } & 746.9 & 752.9 & 731.2 & 745.0 \
\hline
\end{array}$$
A)$18,600
B)$21,000
C)$21,800
D)$23,680
E)$26,080

Quizplus · Accepted Answer

Total profit to date = 4 × 100 × ($745 - $692.50) = $21,000

You Purchased Four April Futures Contracts on Gold When the Price