The futures price of gold is $1,000. Futures contracts are for 100 ounces of gold, and the margin requirement is $5,000 a contract. The maintenance market requirement is $2,000. You expect the price of gold to rise and enter into a contract to buy gold.

1. How much must you initially remit? Round your answer to the nearest dollar.

   $

2. If the futures price of gold rises to $1,060, what is the profit and return on your position? Round your answer for profit to the nearest dollar and for return to the nearest whole number.

   Profit: $

   Return: %

3. If the futures price of gold declines to $986, what is the loss on the position? Round your answer to the nearest dollar. Enter the answer as a positive value.

   $

4. If the futures price declines to $946, what must you do? Round your answer to the nearest dollar. Enter the answer as a positive value.

   The investor will have to -Select-remitwithdrawItem 5 $ to restore the initial $5,000 margin.

5. If the futures price continues to decline to $932, how much do you have in your account? Round your answer to the nearest dollar.

   $