What is the value of the trader total payoff

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At date t, a trader takes a short position in a forward contract on gold. The date t forward price is $1,823.04 per ounce of gold and the contract size is 116 ounces. At the contract's expiration date, the spot price of gold is $1,848.84 per ounce. What is the value of the trader's total payoff at the contract's expiration date?

Reference no: EM132796894

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