3: A trader sells a futures contracts with the following market quotations andcontract specification: Contract maturity date: Novemberfutures price:$1,010 per unit.Each contract is on 100 units the initial margin per contract is $2,000.The maintenance margin per contract is $1,500 What is the balance of his margin account at the end of the next day if futures pricerises to $1,012 per unit the next day? Select one A.$3,300 B.$3,700 C.$2200 d.$1,800