Business, 16.03.2020 18:55 destany25

Please answer the next question based on the closing July futures contract prices for EUR for four consecutive days in March 20XX. You sold two EUR futures contract at the closing price on 3/01. Each EUR futures contract requires the delivery of EUR125,000. Suppose, the initial and maintenance margin for each EUR futures contract are $1,500 and $1,000, respectively. Assume that you do not withdraw from your margin account during this period, but that you do meet your margin calls if you get any. Date 3/01 3/02 3/03 3/04 EUR Spot Price $1.3579 $1.3527 $1.3588 $1.3580 July EUR Futures Contract Price $1.3750 $1.3782 $1.3827 $1.3713 Assuming that you meet your margin calls, if you get any, please estimate how much money you will have in your margin account at the close of the trading day on 3/04:

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