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Consider a situation where the initial futures price is Sh. 10 per unit, initial margin requirement is Shs 8 per unit, and maintenance margin is

Consider a situation where the initial futures price is Sh. 10 per unit, initial margin requirement is Shs 8 per unit, and maintenance margin is Shs 5 per unit. The closing prices of the futures for the first four days are as per the table below: Day 0 1 2 3 4 Closing price per unit $10 $12 $15 $17 $ 6 A trader purchases 1000 long futures contracts. What will be the balance in the margin account at the end of day three?

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