The current value of an S&R futures is 1000$. You buy 50 futures on the S&R and the contract size is500$. The margin is settled on a weekly basis and the margin is 12.5% of the notional value. Margin calls are made as soon as the the margin is below 75% of the initial margin level. We assume that r= 5%.

Use an Excel spreadsheet to calculate the profit over the whole period for a)Futures and b)Forward contract.

PLease make it as detailed as possible, include the formulas used