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An investor enters into a short futures position in three contracts in gold at a futures price of $1,775.50 per oz. The size of one

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An investor enters into a short futures position in three contracts in gold at a futures price of $1,775.50 per oz. The size of one futures contract is 100 oz. The initial margin per contract is $9,500, and the maintenance margin per contract is $6,900. Assume the following evolution of gold prices over the next five days, and compute the margin account assuming that the investor meets all margin calls. What is the total loss or profit if the investor closes out the position on 10/14/2021? (12 points) Date Price Daily Gain Cumulative Gain Margin Account Balance Margin Call 10/10/2021 $1,775.50 10/11/2021 $1,790.00 10/12/2021 $1,810.50 10/13/2021 $1,805.00 10/14/2021 $1,800.00

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