garlic contract: DELIVERY OF KEJORA FRESH SIBERIAN HARDNECK GARLIC BULB 4,800 COUNT TO OLIVE MILL ARIZONA...
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garlic contract: DELIVERY OF KEJORA FRESH SIBERIAN HARDNECK GARLIC BULB 4,800 COUNT TO OLIVE MILL ARIZONA AT $.27 PER BULB DISCOUNT due: first week of March, 2022. Chicago Board of Trade imposes +/-10cents per bulb price (movement) limit; initial margin of $700; maintenance margin of 450. March garlic contract sells at $2.47/bulb when you purchased a contract. Subsequent events follow: Price of garlic futures falls to 2.44/bulb. Price of garlic futures falls further to 2.40/bulb. Price of garlic futures falls further to 2.38/bulb. what is your margin balance at the end of the day? garlic contract: DELIVERY OF KEJORA FRESH SIBERIAN HARDNECK GARLIC BULB 4,800 COUNT TO OLIVE MILL ARIZONA AT $.27 PER BULB DISCOUNT due: first week of March, 2022. Chicago Board of Trade imposes +/-10cents per bulb price (movement) limit; initial margin of $700; maintenance margin of 450. March garlic contract sells at $2.47/bulb when you purchased a contract. Subsequent events follow: Price of garlic futures falls to 2.44/bulb. Price of garlic futures falls further to 2.40/bulb. Price of garlic futures falls further to 2.38/bulb. what is your margin balance at the end of the day?
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SOLUTION Change in margin when purchase Change 0 144 192 96 Day ... View the full answer
Related Book For
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
Posted Date:
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