The multiplier for a futures contract on a certain stock


The multiplier for a futures contract on a certain stock market index is $250. The maturity of the contract is one year, the current level of the index is 1,700, and the risk-free interest rate is 0.4% per month. The dividend yield on the index is 0.4% per month. Suppose that after one month, the stock index is at 1,719. Find the cash flow from the mark-to-market proceeds on the contract. (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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Financial Management: The multiplier for a futures contract on a certain stock
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