Copper futures for december delivery are currently trading at $2.50/pound. A contract is 25,000 pounds and the initial margin of $2000/contract and a maintenance margin of $1000/contract.

a. You long buy 5 contracts. After 3 days copper is trading $2.62/pound what is the balace in your margin account?

b. if you close out the position when copper is at $2.70, what is your total profit?