How much money is the bank up in the contract


Problem

Suppose it is Jan 1st, and the futures price for the August 1st delivery of a 1-year zero-coupon government T-bill is $96/$100FV. The size of one contract is for $1M face value

If your bank goes long 20 contracts, and the price of the August 1st future increases to $97, how much money is the bank up in this contract?

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Corporate Finance: How much money is the bank up in the contract
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