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If using excel format please show workings so I can understand how you got the answer, thank you! 2. You have entered into ten short

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If using excel format please show workings so I can understand how you got the answer, thank you!

2. You have entered into ten short whole milk powder (WMP) futures contracts, each for 6,000kgMS of WMP. When you entered the contracts, the futures price was $5.257 per kgMS. (ie, $31,542 per contract). You are required to post an initial margin of $3,000 per contract, and are told that you have a maintenance margin of $2,500 (per contract). Over the next five days, the futures price is: We will assume that if you face any margin calls, you meet them. On each of the five days, what is your profit/loss? What is the level of your margin account? How much of a margin call will you face? At the end of the five days, how much money could you withdraw from your margin account if you wished? 10 marks

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