Completed quickly and followed instructions given. Grammar, spelling, etc. was all good as well. Thank you so much! Will hire in the future.
TodayÃ¢â‚¬â„¢s settlement price on a Chicago Mercantile Exchange (CME) Yen futures contract is $0.8011/Ã‚Â¥100. Your margin account currently has a balance of$2,000. The next three daysÃ¢â‚¬â„¢ settlement prices are $0.8057/Ã‚Â¥100, $0.7996/Ã‚Â¥100, and$0.7985/Ã‚Â¥100. (The contractual size of one CME Yen contract is Ã‚Â¥12,500,000). Youhave a short position in one futures contract.(a) Calculate the changes in the margin account from daily marking-to-market and thebalance of the margin account after the third day.(b) Do the problem again assuming you have a long position in the futures contract.
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