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The next 2 questions are based on the following: You have taken a short position in S futures contracts at $325. The initial margin requirement

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The next 2 questions are based on the following: You have taken a short position in S futures contracts at $325. The initial margin requirement is $25 per contract, and the maintenance margin is $20 per contract. You will meet all margin calls and will not withdraw any excess margin. The price of the contract for the next 7 days is given in the table below. Day Beginning Balance Funds Futures Price Price Change Gain/Loss Ending Balance Deposited 0 1 2 3 4 5 6 7 325 319 318 320 321 324 331 329 What is the Return on the Investment by the end of the th day? -17.78% -25.6896 0 -12.00% 0-16.00% -19.44%

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