Consider the following 6-months diamond futures contract Contract Size 100 ounces Initial margin requirement $6,100 Maintenance margin requirement $5500 Opening price $1,200 per ounce Initial contract value $1,200 per ounce In January 1, a trader buys 3 diamond futures contract for June delivery. The June contract rises to $1,220 per ounce in three months. Required. Determine the Current profit or loss and the status of the margin accounts for i. The buyer ii. The seller 5 Marks d. The $/ spot foreign exchange rate = 5.7; US dollar interest rate = 3% p.a. and the Cedi interest rate = 26% p.a