1. The quoted settlement prices of the May 2015 Soybean futures contract over five successive trading days were as follows:

4/3/2015	979
4/6/2015	971
4/7/2015	971
4/8/2015	954
4/9/2015	951

The contract calls for delivery of 5,000 bushels of soybeans and is quoted in cents per bushel. The initial margin required by the exchange was $2,300 per contract, and the maintenance margin was $2,000.

a. A trader took a long position in one contract on April 3, 2015 at the settlement price on that day, and deposited the minimum required margin into her margin account. Assuming the position was maintained through April 9, 2015 show, for each day, the balance in the margin account, whether a margin call would have been received, and (if a margin call was received) how much must have been deposited into the account each day to maintain the position. [2 points]