Suppose you buy a stock index futures contract at the opening price of $$452\mathrm{.}25$ on July $1.$ The multiplier on the contract is $500.$ So the price is $$500*452\mathrm{.}25=$ $$226,125.$ You hold the position until selling in on July $8$ at the opening price of $$441\mathrm{.}65.$ The initial margin requirement is $$9,000$ and the maintenance margin requirement is $$6,000.$ Assume that you deposit the initial margin

and do not withdraw the excess on any given day. Construct a table showing the charges and credits to the margin account the daily prices on the intervening days are as follows.

Day Settlement Price and close

$7/1453\mathrm{.}95$

$7/2454\mathrm{.}5$

$7/3452$

$7/7443\mathrm{.}55$

$7/8441\mathrm{.}65$

$7/9441\mathrm{.}65$