Jack gain or lose from speculation with futures

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Reference no: EM132011826

Jack Hemmings bought a 3-month yen futures contract for 0.0088SF/Y and the exchange rate changed to 0.0085SF/Y at which time he sold the futures. If each futures contract is for an amount of Y100,000, in Swiss Francs (SF) how much money did Jack gain or lose from his speculation with futures?

Reference no: EM132011826

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