Show your answers in the cells marked by "a", "b", "c"

Consider the Mark-to-Market Settlements for 1 gold futures contracts maturing in 5 months. Assume that the risk-free rate available to investors is 6% per annum with quarterly compounding and that no arbitrage relationship between spot and futures prices (Futures-Spot parity) with continuous compounding holds in all months. Also assume that the initial margin is $18.000 per contract, while the maintenance margin is $6000 per contract Futures Contr Price. act Spot Price End of Change in Size Mo End of Month Futures (ounc Buyer/Long Seller Short nth Month(s) (F) Price es) Position Position (c) Contract Initial Initiated 0 1307.00 1339.84 100 Margin (b) 1 1335.25 100 1309.00 (a) (b) 1336.76 100 C ) (b) (c) Monthly Adjustments 3 3 1332.00 100 1345.29 (a) (b) c) 4 100 1325.00 (a) (b) Delivery 5 1321.00 100 Account Bal. Month 5 (c) (c) For the questions below answers must contain at least three digits after the decimal point. Consider the Mark-to-Market Settlements for 1 gold futures contracts maturing in 5 months. Assume that the risk-free rate available to investors is 6% per annum with quarterly compounding and that no arbitrage relationship between spot and futures prices (Futures-Spot parity) with continuous compounding holds in all months. Also assume that the initial margin is $18.000 per contract, while the maintenance margin is $6000 per contract Futures Contr Price. act Spot Price End of Change in Size Mo End of Month Futures (ounc Buyer/Long Seller Short nth Month(s) (F) Price es) Position Position (c) Contract Initial Initiated 0 1307.00 1339.84 100 Margin (b) 1 1335.25 100 1309.00 (a) (b) 1336.76 100 C ) (b) (c) Monthly Adjustments 3 3 1332.00 100 1345.29 (a) (b) c) 4 100 1325.00 (a) (b) Delivery 5 1321.00 100 Account Bal. Month 5 (c) (c) For the questions below answers must contain at least three digits after the decimal point