An investor takes a short position in 5 futures contracts of a certain company. Each contract...

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An investor takes a short position in 5 futures contracts of a certain company. Each contract is for 100 shares. The forward rate for each day is presented in the table below. The maintenance margin is variable (changes every day) and it is at the level of 6% of the contract value, while the initial margin is 1/3 higher than the maintenance margin. a) Please explain briefly what the marking-to-market procedure is, what is the purpose of it and when it is used. (3) points) b) Please complete the marking-to-market procedure for this investor assuming that he/she closes position on day no 5. (4 points) price of day the 2345 contract 30 29.15 30.65 29 29.98 initial maintenance daily margin margin profit 1400 deposit account before call or withdrawal call or withdrawal deposit account after call or withdrawal (at the end of the day) c) Please calculate the total profit or loss of the investor. (1 point) d) When and in what amount can this investor withdraw funds from a deposit account? (2 points) An investor takes a short position in 5 futures contracts of a certain company. Each contract is for 100 shares. The forward rate for each day is presented in the table below. The maintenance margin is variable (changes every day) and it is at the level of 6% of the contract value, while the initial margin is 1/3 higher than the maintenance margin. a) Please explain briefly what the marking-to-market procedure is, what is the purpose of it and when it is used. (3) points) b) Please complete the marking-to-market procedure for this investor assuming that he/she closes position on day no 5. (4 points) price of day the 2345 contract 30 29.15 30.65 29 29.98 initial maintenance daily margin margin profit 1400 deposit account before call or withdrawal call or withdrawal deposit account after call or withdrawal (at the end of the day) c) Please calculate the total profit or loss of the investor. (1 point) d) When and in what amount can this investor withdraw funds from a deposit account? (2 points)