What is the balance of margin account

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You sell five December CPO futures contracts when the futures price is $2,000 per Metric Ton. Each contract is on 25 Metric Tons and the initial margin per contract $12,000. The maintenance margin per contract is $9,000. During the next day the CPO futures price rises to $2,020 per Metric Ton. What is the balance of your margin account at the end of the day?

Reference no: EM132978832

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