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Jon establishes a long position of one T-bnd future today for a settlement price of 102'12. The exchange requires an initial margin of $2700 and

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Jon establishes a long position of one T-bnd future today for a settlement price of 102'12. The exchange requires an initial margin of $2700 and a maintenance margin of $2600. his contract price next day is: Day t: settlement price102'01 Compute his margin account balance at the end of Day 1

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