2. Poor Professor Smith, referred to jokingly as Lucky, enters into the long position of 10 S&P 500 futures contracts. His brokerage firm requires an initial margin balance equal to 20% of his notional amount. The firm also has a maintenance margin requirement of 90% of his initial margin balance. His margin balance will earn 4% interest and is marked to market weekly.The S&P 500 futures price currently and at the end of the next two weeks are given below:

Today 3500

One week from today 3350

Two weeks from today 3300

Determine the amount of the margin call, if any, that Lucky Smith receives at the end of week 2. (15 points)