Futures agreement is settled with delivery notification

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Reference no: EM131584064

On March 1, you have entered a futures contract to make delivery of one ounce of gold for $415. The agreement is good for any day up to April 1. Throughout March, the price of gold hit a low of $385 and hit a high of $435. The closing price on March 31 is $430. On April 1, your futures agreement is settled with a delivery notification. What is your net profit?

Reference no: EM131584064

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