$1$:$45$:$56$

Question $5$

Not yet answered

Marked out of $3\mathrm{.}00$

Flag question

Question text

Suppose that on September $5,2021,$ a company takes a long position in four December $2021$ crude oil futures contracts. One contract is for the delivery of $1000$ barrels of crude oil. The initial margin for each contract is $$4,000$ and the maintenance margin is $$2,500.$ The futures price is $$45\mathrm{.}41$ per barrel when the company enters into the contract.

a$.$ At the end of the first day, the settlement price at the end of the day is $$46\mathrm{.}09$ per barrel:

i$).$ Calculate the balance of the margin account