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An investor has just entered 2 short palladium futures contracts at a futures price of $1,838 per troy ounce. The size of each contract is
An investor has just entered 2 short palladium futures contracts at a futures price of $1,838 per troy ounce. The size of each contract is 100 troy ounces. The initial margin is $20,000 per contract and the maintenance margin is $15,000 per contract. A month after opening the position the futures price rises to $1,912 per barrel. What is the balance of the total margin account at the end of the month? (Assume that no margin call has occurred over this period and your answer should be to the nearest dollar, without the dollar sign.)
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