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Yesterday, you entered into a futures contract to buy 62,500 at $1.50/. Your initial margin was $3,750 (= 0.04 * 62,500 * $1.50/ = 4
Yesterday, you entered into a futures contract to buy 62,500 at $1.50/. Your initial margin was $3,750 (= 0.04 * 62,500 * $1.50/ = 4 percent of the contract value in dollars). Your maintenance margin is $2,000 (meaning that your broker leaves you alone until your account balance falls to $2,000). At what settle price (use 4 decimal places) do you get a margin call?
A. $1.4720/
B. $1.5280/
C. $1.500/
D. None of the above
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