uppose an investor has a $$1$ million short position in T$-$bond futures. The investor$$s broker requires a maintenance margin of $5\%,$ which is the amount currently in the investor$$s account.

A$.$Suppose also that the value of the futures contract drops by $$50,000$ to $$950,000.$ How much will the investor be required to pay$/$receive from his broker to maintain his margin? What will be the value of the investor$$s account balance $($assuming no excess$)$ as a result of the price drop?

B$.$If the futures contract increases in value the next day by $$45,000$ to $$995,000,$ how much will the investor be required to pay$/$receive from his broker to maintain his margin? What will be the value of the investor$$s account balance $($assuming no excess$)$ as a result of the price increase?