Compute the balance in your margin account at the end of


You are long 10 gold futures contracts, established at an initial settle price of $1,500 per ounce, where each contract represents 100 troy ounces. Your initial margin to establish the position is $12,000 per contract, and the maintenance margin is $11,200 per contract. Over the subsequent four trading days, gold settles at $1,495, $1,490, $1,505, and $1,515, respectively. Compute the balance in your margin account at the end of each of the four trading days, and compute your total pro t or loss at the end of the trading period. Assume that a margin call requires you to fund your account back to the initial margin requirement.

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Financial Management: Compute the balance in your margin account at the end of
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