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An investor enters into a long position in 10 contracts of NOK/USD futures at $0.17780. One contract is for delivery of 2,000,000 Norwegian kroner. The

An investor enters into a long position in 10 contracts of NOK/USD futures at $0.17780. One contract is for delivery of 2,000,000 Norwegian kroner. The initial margin is $ 13,500 and the maintenance margin is $ 10,000 per contract. If a margin call occurs assume that the account is topped back to the original level (initial margin). Settlement price for day 1 is $0.17792. Calculate the margin a/c balance at the end of day 1.

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