Use the following soybean futures quotes to answer this question.
Soybeans: 5,000 bushels, cents and 1/8ths of a cent per bushel
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Last week, you purchased four November 08 soybean futures contracts when the price quote was 1300?6. What is your current profit or loss on this investment?
A) -$3,100.00
B) -$2,625.00
C) -$31.00
D) $987.50
E) $3,350.00
Correct Answer:
Verified
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