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An investor takes long position in five August Gold futures contracts. Each contract size is 100 troy ounces. Futures price is $1656.20. Initial margin requirement

An investor takes long position in five August Gold futures contracts. Each contract size is 100

troy ounces. Futures price is $1656.20. Initial margin requirement is $5,500 per contract and the

maintenance margin is $3,500 per contract. Find out at what price the margin call will take

place? After the margin call, how much the investor will have to deposit in the margin account?

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