Assume an investor takes a long position in 4 September KLSE CI futures contract on 15th July. The futures contract price is RM1623.00. The initial margin and maintenance margin are RM6,500 per contract and RM4,500.00 per contract respectively. The trader closes his position on the sixth day. The contract size is RM50 per contract. The futures settlement prices during those six days are:

Day 1 RM1621

Day 2 RM1625

Day 3 RM1630

Day 4 RM1620

Day 5 RM1618

Day 6 RM1640

a. Determine the trader's total gains or losses. (10 marks)

b. How much does the trader pay for margin call (if any)? (5 marks) Show all workings.