Mathematics, 22.02.2020 16:29 hewonabi123

Andy enters in a futures contract allowing him to sell 5,000 troy ounces of gold at $1,000 per ounce in 36 months. After that time passes, the market price of gold is $950 per troy ounce. How much did Andy make or lose? Choose one.
Andy lost $250,000.
Andy made $50.
Andy made $250,000.
Andy lost $50.

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Andy enters in a futures contract allowing him to sell 5,000 troy ounces of gold at $1,000 per ounce...