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11. Suppose S&P 500 index futures price is currently 1200. You wish to purchase four futures contracts on margin a. What is the notional value

11. Suppose S&P 500 index futures price is currently 1200. You wish to purchase four futures contracts on margin

a. What is the notional value of your position?

b. Assuming 10% initial margin, what is the value of the initial margin?

c. Assume there is no interest rate on your margin account and the maintenance margin is 80% of initial margin. What is the greatest S&P 500 index futures price at which will you receive a margin call?

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