Refer to the Mini$-$S&P contract in Figure $22\mathrm{.}1.$ Assume the closing price for this day.

Required:

a$.$ If the margin requirement is $21\%$ of the futures price times the contract multiplier of $$50,$ how much must you deposit with your broker to trade the June maturity contract?

b$.$ If the June futures price increases to $$4,400,$ what percentage return will you earn on your investment if you entered the long side of the contract at the price shown in the figure?

c$.$ If the June futures price falls by $1\%,$ what is your percentage return?

Answer is complete but not entirely correct.

Complete this question by entering your answers in the tabs below.

If the June futures price increases to $4,400,$ what percentage return will you earn on your investment if you entered the long side of the contract at the price shown in the figure?

Note: Do not round intermediate calculations. Round your answer to $2$ decimal places.

Percentage return on net investment

$10\mathrm{.}00$

$\%$