Suppose that the current price of USD/TL rate is 7.35. At Borsa Istanbul there is USD futures contract with maturity December 30th, 2021. Suppose the discount rate from today to December is 0.90. Suppose that the contract is traded at fair price. Each contract is for 1000 USD and needs 400 TL initial margin and 300 TL maintenance margin in the account. Suppose expecting USD rate will rise you bought 5 long contracts.

(Answer the following to 2 decimal digits.)

What is the initial price of the future contract = ....................USD/TRY.

What is the initial amount of margin account needed = ........ TL.

If the USD rate falls to 7.14 next month and the discount factor becomes 0.91 what is your profit/loss : ............ TL (write negative number for loss)

What is the remaining amount on margin account? ............. TL

Will there be a margin call? ......... (Yes/No)