Please use the following information for the next 3 questions. Suppose the S&P 500 is currently 980 and the initial margin is 10% of the contract value (notional value). You wish to enter into 15 S&P 500 futures contracts. (You long 15 S&P 500 futures contracts.) Question 6 (4 points) What is the notional value of your position? $245,000 $14,700 $3,675,000 $7,350,000 Question 7 (4 points) What is the value of the initial margin? $735,000 $1,470 $367,500 $24,500 Question 8 (4 points) Suppose you earn a continuously compounded annual rate of 3% on your margin balance, your position is marked to market weekly, and the maintenance margin is 70% of the initial margin. What is the greatest S&P 500 index futures price 1 week from today at which you will receive a margin call? $930.61 $927.35 $950.54 $941.28