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1031/18 Fall2018 Fin4604 7. (10 points) Assume today's settlement price on a Chicago Mercantile Exchange futures contract is $1.3140 EUR. You have a short position

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1031/18 Fall2018 Fin4604 7. (10 points) Assume today's settlement price on a Chicago Mercantile Exchange futures contract is $1.3140 EUR. You have a short position in two contracts. Your account currently has a balance of $3,400. The next three days' settlement prices margin are $1.3126, $1.3133, and $1.3049. Show the changes in the margin account from daily marking-to-market and the balance of account after the third day. The contract size of one EUR contract is EUR125,000

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