Consider a transaction today for five futures contracts for gold. Assume there are no storage costs. Also assume that the futures price is set at a level where there are no arbitrage opportunities. The contract is entered into when the spot price of gold is $1,590.00 per ounce, the continuously compounded rate of interest is 6% and the contract has three months until maturity. Each contract is on 100 ounces of gold and the initial margin per contract is $2,000. The maintenance margin per contract is $1,600. Assume that no money is withdrawn from either margin account during the next six days.

What is (i) the balance of the margin account for the party with a short futures position if the futures price after six days is $1,617.70 and (ii) the price below which a margin call will be made for the party with a long position?