Would like to invest in the stock market

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Milly Jaeger, a private investor, would like to invest in the stock market, but does not have sufficient funds for the next two months. Thus, Jaeger buys an S&P 500 futures contract with a September settlement date when the S&P 500 index is at the level of 1,750. By the settlement date, the S&P 500 index falls to 1,400. Jaeger’s nominal profit or loss on the S&P 500 index futures is $___________________.

Reference no: EM131075953

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