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hannah.kasper hannah.kasper
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3 years ago
You have a long position in one corn futures contract. Each futures contract calls for the delivery of 5,000 bushels of No. 2 corn. The initial margin was $2,500 and the maintenance margin is $1,250. At the close of trading yesterday, the futures price was $5.23 per bushel and the balance in your margin account was $3,250. Today, the settlement price for corn futures is $4.78. What is the balance in your account at the end of today's trading? Assume that you made the minimum deposit necessary if there was a margin call.

▸ $1,000

▸ $1,250

▸ $1,500

▸ $2,500
Textbook 
Corporate Finance Online

Corporate Finance Online


Edition: 2nd
Authors:
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vrundavrunda
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3 years ago
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hannah.kasper Author
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3 years ago
Smart ... Thanks!
MLynneMcMillan
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Yesterday
Thank you, thank you, thank you!
Brownr40
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2 hours ago
Correct Slight Smile TY
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