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Burka [1]
3 years ago
14

Today's settlement price on a Chicago Mercantile Exchange (CME) yen futures contract is $0.8011/¥100. Your margin account curren

tly has a balance of $2,000. The next three days' settlement prices are $0.8057/¥100, $0.7996/¥100, and $0.7985/¥100. (The contractual size of one CME yen contract is ¥12,500,000). If you have a long position in one futures contract, the changes in the margin account from daily marking-to-market, will result in the balance of the margin account after the third day to be?
Business
1 answer:
DIA [1.3K]3 years ago
6 0

Answer:

$2,325

Explanation:

$2,325 = $2,000 +¥12,500,000 *[(0.008011 - 0.008057) + (0.008057 - 0.007996) + (0.007996 - 0.007985)]

=$2,000 + ¥12,500,000 *)[(0.008011 - 0.007985)]

$0.8011/¥100 = $0.008011/¥

Hence:

$0.8057/¥100 = $0.008057/¥

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