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Assume that you are long 10 gold futures contracts, established at an initial settle price of $1,500 per ounce, where each contract represents 100 troy

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Assume that you are long 10 gold futures contracts, established at an initial settle price of $1,500 per ounce, where each contract represents 100 troy ounces. Your initial margin to establish the position is $12,000 per contract and the maintenance margin is $11,200 per contract. Over the subsequent four days, gold settles at $1,495,$1,490,$1,505 and $1,515, respectively. a.Compute the balance in your margin account at the end of each of the four trading days? 2pts b.Compute your total profit or loss at the end of each trading period. 1pt

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