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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 $1.4400. The initial margin is $2000 and the maintenance margin is $1000. Each pound futures contract is for an amount of 62,500. Next day the dollar appreciates to a value of $1.4250. What will the margin account balance be after the contract is marked to market (daily settlement)?
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