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Today's settlement price on a Chicago Mercantile Exchange (CME) euro futures contract is $1.4000/. Your margin account currently has a balance of $16,000. The next

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Today's settlement price on a Chicago Mercantile Exchange (CME) euro futures contract is $1.4000/. Your margin account currently has a balance of $16,000. The next three days' settlement prices are $14020/, $1.3990/, and $1.395/. (The contractual size of one CME Euro contract is 25,000). 1. If you have a long position in one futures contract, Calculate the changes in the margin account from dally marking-to-market and the balance of the margin account after the third day. ( 3 Marks) 2. f you have a short position in one futures contract, Calculate the changes in the margin account from dally marking-to-market and the balance of the margin account after the third day.( 3 Marks)

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