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Please if you can let me know which part of this answer is wrong and please correct them. Thanks Partial Question 31 6.5 / 8

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Please if you can let me know which part of this answer is wrong and please correct them. Thanks

Partial Question 31 6.5 / 8 pts Suppose you take a short position in ONE iron ore futures contract at the open on day 1 and close out your position at the open on day 4. The initial margin is $3,000 per contract and the maintenance margin is $1,500 per contract. The size for each contract is 50 tons. Add/Withdraw Mark- To/From Iron Ore Futures Settlement Prices to- Margin End-of-Day Market Account Balance Date ($/ton) ($) ($) ($) Day 1 1288.56 Nothing needs to be entered here (1) open Day 1 open 1288.56 Nothing needs to be entered here (1) Day 2 settle 1305.98 (2) ) (3) ( Day 3 settle 1322.11 4 (4) Day 4 1315.05 (5) (6) O Close Please round the number solution to 2 decimal places. What the correct amount in (1) of the table? Your answer is 3000 What the correct amount in (2) of the table? Your answer is -871 What the correct amount in (3) of the table? Your answer is 2129 What the correct amount in (4) of the table? Your answer is -806.4 What the correct amount in (5) of the table? Your answer is 353 What the correct amount in (6) of the table? Your answer is -3533 What the variation margin amount in this question? Your answer is 1500 What is the total gain/loss on the futures trading from Day 1 through Day 4? Ignore commission charges. You answer is -1324.5 Partial Question 31 6.5 / 8 pts Suppose you take a short position in ONE iron ore futures contract at the open on day 1 and close out your position at the open on day 4. The initial margin is $3,000 per contract and the maintenance margin is $1,500 per contract. The size for each contract is 50 tons. Add/Withdraw Mark- To/From Iron Ore Futures Settlement Prices to- Margin End-of-Day Market Account Balance Date ($/ton) ($) ($) ($) Day 1 1288.56 Nothing needs to be entered here (1) open Day 1 open 1288.56 Nothing needs to be entered here (1) Day 2 settle 1305.98 (2) ) (3) ( Day 3 settle 1322.11 4 (4) Day 4 1315.05 (5) (6) O Close Please round the number solution to 2 decimal places. What the correct amount in (1) of the table? Your answer is 3000 What the correct amount in (2) of the table? Your answer is -871 What the correct amount in (3) of the table? Your answer is 2129 What the correct amount in (4) of the table? Your answer is -806.4 What the correct amount in (5) of the table? Your answer is 353 What the correct amount in (6) of the table? Your answer is -3533 What the variation margin amount in this question? Your answer is 1500 What is the total gain/loss on the futures trading from Day 1 through Day 4? Ignore commission charges. You answer is -1324.5

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