A Widget futures contract is for 15,000 and the current price for a 6-month contract is $6.325. The initial margin requirement is $6,500 and the minimum maintenance margin is $4,500. The price fluctuations over the first 10 days of ownership are shown below.

Calculate the equity value of the account for each day. Identify the days, if any, when the equity falls below the minimum and the dollar amount of any calls that would be issued to the investor.

Price on the date of purchase: $6.325

Day 1 $6.327

Day 2 $6.331

Day 3 $6.292

Day 5 $6.207

Day 5 $6.215

Day 6 $6.187

Day 7 $6.136

Day 8 $6.244

Day 9 $6.291

Day 10 $6.361