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Suppose that on June 5, a Japanese Yen future contract is purchased at the 123 per dollar (opening price). Contract is for $ 5,000. Initial

Suppose that on June 5, a Japanese Yen future contract is purchased at the 123 per dollar (opening price). Contract is for $ 5,000. Initial margin level is 15% of the value of the contract, and maintenance level is %10 of the value of the contract. The future price is 120 per dollar on June 6. There will be 15% increase in future price on June 7 and 8% decline on June 8? What is the value of the actual margin at the end of the date June 8? (ASSUMPTION: As margin account reaches above the initial margin level, withdraw the amount above the initial margin level)

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