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You have decided to use futures contracts to invest in silver at a settle price of $15 per ounce. Each futures contract has a standard

You have decided to use futures contracts to invest in silver at a settle price of $15 per ounce. Each futures contract has a standard size of 4,900 troy ounces and an initial margin requirement of $4,400. If you purchase 20 contracts, what is the total margin (in dollars) you will need to provide?

$73,500

$4,400

$16,000

$88,000

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