Question
Today's settlement price on a Chicago Mercantile Exchange YEN futures contract is USD 0.8011 / YEN. Your margin account currently has a balance of USD
Today's settlement price on a Chicago Mercantile Exchange YEN futures contract is USD 0.8011 / YEN. Your margin account currently has a balance of USD 2,000. The next three days' settlement prices are USD 0.8057 / YEN, USD 0.7996 / YEN , and USD 0.7985 / YEN. The contractual size of one YEN contract is YEN 125,000. If you have a short position in one futures contract, the changes in the margin account from daily marking-to-market will result in the balance of the margin account after the third day to be how much in USD?
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Multinational Finance
Authors: Kirt Butler
2nd Edition
0324004508, 978-0324004502
