Top Posters
Since Sunday
a
5
k
5
c
5
B
5
l
5
4
C
4
s
4
a
4
t
4
i
4
r
4
Home Q & A Board Other Fields Homework Help Business Finance
New Topic  
hannah.kasper hannah.kasper
wrote...
Go to Answer
Posts: 98
Rep: 0 0
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:
Read 84 times
1 Reply
Replies
Answer verified by a subject expert
vrundavrunda
wrote...
#1
Posts: 84
Rep: 0 0
3 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

hannah.kasper Author
wrote...

3 years ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
nsak
wrote...

Yesterday
Correct Slight Smile TY
jbag1237
wrote...

2 hours ago
Good timing, thanks!
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1292 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 199
  
 424
  
 627
Your Opinion
Which country would you like to visit for its food?
Votes: 204
Previous poll results: Do you believe in global warming?