What is the balance of your margin account

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Reference no: EM131814197

You buy three December oil futures contracts when the futures price is $42 per barrel. Each contract is on 1000 barrels of oil and the initial margin per contract that you provide is $2,000. The maintenance margin per contract is $1,500. During the next day the futures price rises to $42.25 per barrel. What is the balance of your margin account at the end of the day assuming no cash flows?

Reference no: EM131814197

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