Q8: Ahmed has just taken a long position in a futures contract for 300 ounces of gold to be delivered in September. Raja has just taken a short position in the same contract. The futures price is AED 165 per ounce. Initial margin requirement is 15%

a) What is the initial margin of both Tellez and Raja ?

b) Compute maintained margin if requirement is 85%

c) Will there be a margin call if the price goes up to AED 250? Compute the account balance for both.

Please answer all as it is a one complete question.