Suppose that on Monday, 7 July, you assume a long position in one December British pound futures contract at thefutures price of $1.10/£. The initial margin is $2,000, and the maintenance margin is $1,500. The contract size is £125,000.Assume you do not withdraw excess money from your margin balance. All margin requirements are met with cash. Thesettlement prices for Monday and the next two days are shown in the following:Monday: $1.10Tuesday: $1.15Wednesday: $1.07What is the balance in your margin account at the end of Wednesday? The correct answer is B. 1500 - Could you pleaseexplain why 1500 is the correct answer.a. $1,750b. $1,500c. $2,000d. $-$1,000e. $750

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Description: Suppose that on Monday, 7 July, you assume a long position in one December British pound futures contract at thefutures price of $1.10/£. The initial margin is $2,000, and the maintenance margin is $1,500. The contract size is £125,000.Assume you do

First let me explain the concept.Initial margin is the margin that you need to deposit to take a…

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What is the balance in your margin account at the end of Wednesday? The correct answer is B. 1500 - Could you please explain why 1500 is the correct answer.

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

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