On March $3,2025,$ you bought $10($ten$)$ e$-$mini S&P $500$ stock index futures

contract at $4,800$ and were required to put up initial margin of $$102,500.$ The

value of the contract is $4,800$ times the $$50$ multiple, or $$240,000.$ On the next

three days, the contract$$s settlement price was at these levels:

Day $1$ : $4,850$

Day $2$ : $4,880$

Day $3$ : $4,820$

Day $4$ : $4,800$

$2.$ a$.(10$ points$)$ Calculate the value of your margin account on each day.

b$.(5$ points$)$ If the maintenance margin for the contract is $$61,500,$ how much

variation margin did the exchange require you to put up at the end of the third

day?