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Problem 2.3 Suppose that you enter into a short futures contract to sell December fine wool for A$15.00 per kilogram on the Australian Securities Exchange.

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Problem 2.3 Suppose that you enter into a short futures contract to sell December fine wool for A$15.00 per kilogram on the Australian Securities Exchange. The size of the contract is 2,500 kilograms. The initial margin is A$4,000, equating to the maintenance margin. If the price of the fine wool futures increases to A$15.75 per kilogram, what will be the balance of the margin account? Determine the amount of the margin call, if appropriate

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