Please show steps and workings

Use the following information to answer Questions 7 to 12. Mlfed takes the shoet position on 10 cil furures concract at a furures price of $75 per barrel. Each contract is on 1,000 barrels of oil. Sertlement prices on the next 4 dave are aiven as frillowe The exchange enforces an initial mangin sequirement of 10% and a maintenance mangin of 5% 7. The value of each contract at inception is dosest des. A. $75000 ir. $75,500 C. $75 8. The mininum anxount that Alfred must deponit in his furures margin account to ralke his desired positionis dosest des A. $75,000 B. 937,500 C.. S750,1000 9. The maximum annount that Alfred can withdraw form his furures maggin account at the end of Day 2 and keep his position open at the same rime is dowed foc (Assume that he deposited the minimum ampant required at concract inception and did not deposit any more money into his account). A. Zeers B. $10,000 C. 35,000 10. If Alfred closes out his position at the end of Day 3, the total amount of money in his account would be dosest do? A. 555,000 B. $97,500 C. 595,000 Saint Kutzu, Ph.D. 1 11. Assuming that Alfred withdraws no money foom his account, meets all mangin calls and closes his positson at the end of Day 4 , the balance in his account would be doest in? A. $75,000 I3. $115,1100 C. $77,500 12. Assuming that Alfred withdraws the entire excess mangin foxm his account at the end of Day 3, the balance in his account at the end of Day 4 is dosest dec A. $115,000 B. $75,000 C. 595,000 Use the following information to answer Questions 7 to 12. Mlfed takes the shoet position on 10 cil furures concract at a furures price of $75 per barrel. Each contract is on 1,000 barrels of oil. Sertlement prices on the next 4 dave are aiven as frillowe The exchange enforces an initial mangin sequirement of 10% and a maintenance mangin of 5% 7. The value of each contract at inception is dosest des. A. $75000 ir. $75,500 C. $75 8. The mininum anxount that Alfred must deponit in his furures margin account to ralke his desired positionis dosest des A. $75,000 B. 937,500 C.. S750,1000 9. The maximum annount that Alfred can withdraw form his furures maggin account at the end of Day 2 and keep his position open at the same rime is dowed foc (Assume that he deposited the minimum ampant required at concract inception and did not deposit any more money into his account). A. Zeers B. $10,000 C. 35,000 10. If Alfred closes out his position at the end of Day 3, the total amount of money in his account would be dosest do? A. 555,000 B. $97,500 C. 595,000 Saint Kutzu, Ph.D. 1 11. Assuming that Alfred withdraws no money foom his account, meets all mangin calls and closes his positson at the end of Day 4 , the balance in his account would be doest in? A. $75,000 I3. $115,1100 C. $77,500 12. Assuming that Alfred withdraws the entire excess mangin foxm his account at the end of Day 3, the balance in his account at the end of Day 4 is dosest dec A. $115,000 B. $75,000 C. 595,000