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Four days ago you entered into a futures contract to buy 125,000 at $1.52 per euro. The spot exchange rate when you entered the contract
Four days ago you entered into a futures contract to buy 125,000 at $1.52 per euro. The spot exchange rate when you entered the contract was $1.54. Your initial performance bond was $7,700 and your maintenance level was $3,100. Over the past four days (in order) the contract has settled at $1.54,$1.56,$1.47, and $1.48. What should your performance account balance be at the end of the four days? (Assume you do not withdraw excess funds and only add funds if required.) $8,950$2,700$5,000$12,700$1,450$16,450
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