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You sold five August gold futures contracts at $ 2 , 0 0 0 per troy ounce. August gold futures are now trading at $

You sold five August gold futures contracts at $2,000 per troy ounce. August gold futures are now trading at $1,995. What amount of margin did you deposit if the initial margin requirement was 6% of the contract value? (hint: a $1 change in the futures price is worth $100).

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