Gold (CMX) 100 Troy Oz -A Corn Futures Contract Was Purchased for $1

Multiple Choice

Gold (CMX) 100 troy oz.; $ per troy oz.



$\begin{array}{|l|r|r|r|r|r|r|r|r|}\hline & \text { Open } & \text { High } & \text { Low } & \text { Settle } & \text { \$Chg } & \text { Sea. Hi } & \text { Sea. Lo } & \text { Op. Int. } \\\hline \text { December } & 384.00 & 389.50 & 382.20 & 384.60 & 0.20 & 394.80 & 280.00 & 183.612 \\\hline \text { April } & 385.00 & 391.00 & 385.00 & 387.10 & 0.15 & 395.70 & 287.00 & 10,167 \\\hline\end{array}$


-A corn futures contract was purchased for $1.50 per bushel on July 1. Each contract is for 5,000 bushels. The contract is sold for $1.60 per bushel on October 1. What is the holding-period return?

A) 6.25%
B) 6.67%
C) 5.75%
D) 7.25%
E) 7.00%