Oliver entered into a long position in a 3-month futures contract on 1,000 units of a stock index. He makes an initial deposit of $50,000 in his margin account, which is credited with annual effective interest rate of 3%. The contract is marked-to-market daily. The index futures price for the first 7 days is as follows: Day01234567Closing futures price ($)13461360137413881402141614301444 Calculate the amount in Olivers margin account at the end of 7 days.

Oliver entered into a long position in a 3-month futures contract on 1,000 units of a stock index. He makes an initial deposit of $50,000 in his margin account, which is credited with annual effective interest rate of 3%. The contract is marked-to-market daily. The index futures price for the first 7 days is as follows: Day Closing futures price ($) 0 1346 1 2 1360 1374 1388 3 1402 5 1416 1430 1444 Calculate the amount in Oliver's margin account at the end of 7 days. A 50,000 B 54,000 148,000 Calculate the amount in Oliver's margin account at the end of 7 days. A 50,000 B 54,000 C 148,000 D 162,000 @ E 171,000