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Jack Hemmings bought a 3 - month British pound futures contract for $ 1 . 4 4 0 0 . The initial margin is $

Jack Hemmings bought a

3 -

month British pound futures contract for $

\frac{1.4400}{} .

The initial margin is $

2000

and the maintenance margin is $

1000 .

Each pound futures contract is for an amount of

62, 500 .

What is the leverage factor for this investment?

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