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Exchange rate is currently $1.85 US per 1 British pound. Interest rate is 4% in...

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Accounting

Exchange rate is currently $1.85 US per 1 British pound. Interest rate is 4% in the US and 3% in the UK. A bank is short a futures contract on 1,000,000 pounds with F= $1.9 million maturing in one year. Find the delta of the banks position.

-1,796,116.50

-970,873.79

1,900,000

1,826,923.08

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