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Need quick please! Margin trading on commodity futures. An investor has a long position in 7 gold contract(s). Each contract controls 100 troy ounces. The

Need quick please!
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Margin trading on commodity futures. An investor has a long position in 7 gold contract(s). Each contract controls 100 troy ounces. The investor entered the position at $981.4. Assume that the initial margin per contract is $2,500, the maintenance margin is $2,000, and the futures price drops to $1,079.5 at the end of the first day and $1,187,5 on the end of the second day. a. What is the the profit/loss at the end of the first day? s Rouns your answer to the nearest cent b. Is there a margin call at the end of the first day? No Yes c. What should be the margin account balance at the end of the first day if trading is to continue? Round your answer to the nearest cent. d. What is the the profit/loss at the end of the second day? Round your answer to the nearest cent e. Is there a margin call at the end of the second day? No Yes

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