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papahomer papahomer
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7 years ago
You purchased one July futures contract of pork bellies at $.59 per lb. One contract represents 40,000 lbs. of pork bellies. Initial margin on the contract was 4% of the contract price with a maintenance margin of $500. By the end of the day, the price had fallen to $.57 per lb. How much will you be required to add to your margin account to replenish your maintenance margin?
A) None
B) $356
C) $144
D) $32
Textbook 
Financial Management: Principles and Applications

Financial Management: Principles and Applications


Edition: 13th
Authors:
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LutionalLutional
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7 years ago
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papahomer Author
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7 years ago
Thanks for your help!!
Tim0301
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Yesterday
This calls for a celebration Person Raising Both Hands in Celebration
jmendoza
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2 hours ago
Smart ... Thanks!
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