A retail investor takes a long position in three November gold futures contracts

(1) contract size is 100 ounces.

(2) futures price is US$1250 per ounce

(3) initial margin requirement is US$6,000/contract (US$18,000 in total) (

4) maintenance margin is US$5,000/contract (US$15,000 in total) What are the daily gain/loss, cumulative gain/loss, margin balance, and variation margin from day 1 to day 16 if the settle prices on each day are listed as follows?

Day	Trade Price	Settle Price	Daily Gain	Cumul. Gain	Margin Balance	Variation Margin
	1250				1800
1		1241
2		1238.3
3		1244.6

(given day 16 trade price)

16. 1226.9

Help solve up to day 3 with WORK! So i am able to complete the rest of the table with the formulas.