How much will be in your margin account, Finance Basics

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How much will be in your margin account

Problem

You go long 15 January Silver futures contracts (each contract represents 5,000 ounces) at $14.25 per ounce. The initial margin per contract is $16,875 per contract. If Silver rises to $16.15, how much will be in your margin account (assuming no cash flows)?

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Finance Basics: How much will be in your margin account

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