Question: I need an explanation for this answer Question 8 1/1 pts Please answer the next question based on the closing July futures contract prices for

I need an explanation for this answer

Question 8 1/1 pts Please answer the next question based on the closing July futures contract prices for EUR for four consecutive days in March 20XX. You sold two EUR futures contract at the closing price on 3/01. Each EUR futures contract requires the delivery of EUR125,000. Suppose, the initial and maintenance margin for each EUR futures contract are $1,500 and $1.000, respectively. Assume that you do not withdraw from your margin account during this period, but that you do meet your margin calls if you get any. Date EUR Spot Price July EUR Futures Contract Price 3/01 $1.3979 $1.3750 3/02 51.3527 51.3782 3/03 $13588 S11827 3/04 SI 3580 $1.3713 On 3/03 you will a margin call and on 3/04 you will a margin call from the exchange et net notat no not to get not get

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