The current value of an S&R futures is $1407.34. You buy 3 futures on the S&R and the contract size is $449. The margin is settled on a monthly basis and the margin is 15% of the notional value. Margin calls are made as soon as the margin is below 77% of the initial margin level. We assume that r = 5% and observe the following futures prices: 0 1 2 3 4 Month Futures Price $1407.34 $1592.84 $1662.09 $1598.07 $1372.29 Find the monthly margin balance (a) at time 0. (b) at time 1 (c) at time 2. (d) at time 3. (e) at time 4. answer correct to 2 decimals answer correct to 2 decimals answer correct to 2 decimals answer correct to 2 decimals answer correct to 2 decimals The current value of an S&R futures is $1407.34. You buy 3 futures on the S&R and the contract size is $449. The margin is settled on a monthly basis and the margin is 15% of the notional value. Margin calls are made as soon as the margin is below 77% of the initial margin level. We assume that r = 5% and observe the following futures prices: 0 1 2 3 4 Month Futures Price $1407.34 $1592.84 $1662.09 $1598.07 $1372.29 Find the monthly margin balance (a) at time 0. (b) at time 1 (c) at time 2. (d) at time 3. (e) at time 4. answer correct to 2 decimals answer correct to 2 decimals answer correct to 2 decimals answer correct to 2 decimals answer correct to 2 decimals