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Not sure how to do the math Please answer the next three questions based on the closing December futures contract prices for SF for four

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Please answer the next three questions based on the closing December futures contract prices for SF for four consecutive days in August. You sold two SF futures contract at the closing price on 8/01. Each SF futures contract requires the delivery of SF 125,000. Suppose the initial and maintenance margin for each SF futures contract are $1,500 and $1,000, respectively. Assume that you do not withdraw from your margin account during this period, but that you do meet your margin call if you get one Date 8/01 $0.7579 $0.7750 8/02 S0.7527 $0.7782 8/03 $0.7588 $0.7827 8/04 $0.7580 $0.7713 Closing SF Spot Price Closing December SF Futures Contract Price 1. The profit/loss posted to your account at the close of 8/02 is: A. $400 B. $400 C. $800 D. $6,375 2. Assuming that you meet your margin calls, if you get any, please estimate how much money you will have in your margin account at the close of the trading day on 8/04: A. $1,075 B. $3,925 C. $3,000 D. $5,850 3. On 8/02 you willa margin call, on 8/03 you will amargin call, and on 8/04 you will margin call from the exchange A. get; not get; get B. not get; get; not get a C. get, get, not get D. get; get; get

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