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papahomer papahomer
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6 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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6 years ago
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papahomer Author
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6 years ago
Good timing, thanks!
54321abs
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Yesterday
Thank you, thank you, thank you!
Tabitha.davis
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2 hours ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
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