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Consider an investment in five S&P 500 Index futures contracts at a price of $924.80. The initial margin requirement is 20% and the maintenance margin

Consider an investment in five S&P 500 Index futures contracts at a price of $924.80. The initial margin requirement is 20% and the maintenance margin is 15%. If the continuously compounded interest rate is 5.0% what will the futures price need to be for a margin call to occur 5 days from now? Assume no settlement within the 5 days.

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$967.37

$898.63

$936.45

$878.43

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