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Please explain how to obtain the answer. Thank you!Problem 42 Jack Hemmings sold a 3-month British pound futures contract for $1.4400/E only to see the dollar appreciate to a value of $1.4250/E at which time he sold the pound futures. If each pound futures contract is for an amount of £62,500, how much money did Jack gain or lose from his speculation with pound futures!? A. $937.50 loss 12 B. S937.50 gain C. £937.50 loss D. £937.50 gain Answer: A

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