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The futures price of corn is $3.00 and the contract is for 5000 bushels. The purchase margin is $2000, and the maintenance margin is $900.

The futures price of corn is $3.00 and the contract is for 5000 bushels. The purchase margin is $2000, and the maintenance margin is $900. You enter into a contract to deliver corn (at $3.00). The price of corn goes to $3.30. How much money is in your account? Will you have to remit cash because of a margin call? If so, how much?

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