Use the following information to answer the next 3 questions

After reading several reports, an investment banker believes that the pound will appreciate relative to the dollar over the next few days. The banker decides to use six pound futures contracts to trade based on his belief. Each contract has 125,000 pounds attached. The initial and maintenance margin is $20000 and $18000 per contract, respectively. The futures price on the day the banker opened his position (Tuesday) was $1.625/pound.

The futures price on Wednesday is $1.615. Find the investor's ending margin balance (in USD) on Wednesday. (Assume any deficits are eliminated to keep the account open and any excess funds remain in the account)

		108,000
		120,000
		127,500
		112,500
		none of the above 2.The futures price on Thursday is $1.605. Find the investor's ending margin balance (in USD) on Thursday. Assume any deficits are eliminated to keep the account open and any excess funds remain in the account. Round intermediate steps to four decimals and your final answer to two decimals. Do not use currency symbols or words when entering your response. 3.The futures price on Friday is $1.60. Find the investor's ending margin balance (in USD) on Friday. Assume any deficits are eliminated to keep the account open and any excess funds remain in the account. Round intermediate steps to four decimals and your final answer to two decimals. Do not use currency symbols or words when entering your response.