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You long one S&P 500 index future contract (the multiplier is $250 for one contract). Assume the initial margin requirement is 10% of account value,

You long one S&P 500 index future contract (the multiplier is $250 for one contract). Assume the initial margin requirement is 10% of account value, and the maintenance margin requirement is 8%, will you receive a margin call on day 3? How much fund you need to put in this account to keep it working if you receive the margin call? Finish the following marking to market table.

Day Settle Price $ Value of one contract Value Change in one contract Margin Account Value Total HPR Margin Account
Open 4463.12
1 4575.52
2 4488.28
3 4291.69

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