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Lets consider an investor who contacts his or her broker on Friday, December 5, to buy three December gold futures contract on the COMEX division

Lets consider an investor who contacts his or her broker on Friday, December 5, to buy three December gold futures contract on the COMEX division of NYME. Suppose the current future price is $1000 per ounce. Since the contract size is 100 ounces, the investor has contracted to buy a total of 300 ounces at this price. Now, the broker will require the investor to deposit funds in a margin account. Initial margin was $1,500 per contract. At the end of each trading day, the margin account is adjusted to reflect investors gain or loss (Marking to market). Assume maintenance margin is $1,100 per contract. Based on the account history below, when would an investor receive a margin call and how much is he required to deposit to his account

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