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Use the following information for the next 2 questions On Day 0, an investor buys, on margin, 20 T-Bond futures contracts at the current price

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Use the following information for the next 2 questions On Day 0, an investor buys, on margin, 20 T-Bond futures contracts at the current price of 100. Current value is $100,000 x 20 contracts = $2,000,000. Initial margin is $4,000 per contract and the maintenance margin is $4,000 per contract (or 4%). Assume the price of the T-Bond futures is the following at days end: o Day 1 95-00 . Day 2 91-00 . Day 3 97-16 What is the balance in margin account at the end of Day 2? O $80,000 O $60,000 O $70,000 O $50,000

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