Operation of margin account for a long position in two gold futures contracts. The initial margin is $6,000 per contract, or $12,000 in total; the maintenance margin is $4,500 per contract, or $9,000 in total. The contract is entered into on Day 1 at $1,250 and closed out on Day 16 at $1,226.90. Day Trade price Settlement Daily gain Cumulative Margin account Margin call ($) ($) price ($) ($) gain ($) balance ($) 1 1,250.00 12,000 1,241.00 11. -1,800 10,200

Operation of margin account for a long position in two gold futures contracts. The initial margin is $6,000 per contract, or $12,000 in total; the maintenance margin is $4,500 per contract, or $9,000 in total. The contract is entered into on Day 1 at $1,250 and closed out on Day 16 at $1,226.90. Day Trade price Settlement Daily gain Cumulative Margin account Margin call ($) ($) price ($) ($) gain ($) balance ($) 1 1,250.00 12,000 1,241.00 11. -1,800 10,200

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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