need help solving A B C

Refer to the Mini-S&P contract in Figure 22.1. Assume the closing price for this day. a. If the margin requirement is 16% of the futures price times the contract multiplier of $50, how much must you deposit with your broker to trade the June maturity contract? (Round your answer to the nearest whole dollar.) Required margin deposit b. If the June futures price increases to 2601.00, what percentage return will you earn on your investment if you entered the long side of the contract at the price shown in the figure? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Percentage return on net investment c. If the June futures price falls by 1%, what is your percentage return? (Negative amount should be indicated by a minus sign. Do not round intermediate calculations. Round your answer to 2 decimal places.) Percentage return on net investment % 138,638 May Contract Open High hilo low Settle Chg Copper-High (CMX)-25,000 lbs.: $ per lb. Jan 2.6445 2.6460 2.6410 2.6410 -0.0105 March 2.6500 2.6595 2.6315 2.6370 -0.0105 Gold (CMX)-100 troy oz: $ per troy oz. Jan 1284.90 1286.80 4.10 Feb 1287.00 1297.00 1284.10 1289.90 4.10 June 1298.90 1309.00 1298.50 1302.90 4.20 Aug 1310.00 1315.10 1307.80 1309.00 4.10 Dec 1317.60 1326.80 1317.60 1321.50 4.10 Feb 20 1327.90 1331.00 1327.30 1327.70 4.20 Palladium (NYM)-50 troy oz. $ per troy oz. March 1242.40 1249.40 A 1230.80 1240.20 5.80 June 1226.20 1231.90 1216.10 1224.30 4.70 Platinum (NYM)-50 troy oz.: $ per troy oz. Jan 824.20 825.40 A 821.00 818.40 -3.60 April 0973 827.20 836.50 A 823.30 824.30 -2.90 Silver (CMX)-5,000 troy oz.; $ per troy oz. Jan 15.750 15.750 A 15.750 15.669 -0.026 March 15.800 15.880 15.680 15.756 -0.030 Crude Oil, Light Sweet (NYM)-1,000 bbls.; $ per bbl. Feb 48.22 49.79 A 48.11 48.52 0.56 48.49 50.11 A 48.44 48.82 0.54 April 48.85 50.47 A 48.80 49.17 0.52 May 49.32 50.90 A 49.32 49.60 0.50 June 49.79 51.33 A 49.72 50.04 0.48 Dec 51.32 52.77 A 51.30 51.48 0.40 NY Harbor ULSD (NYM)-42,000 gal.; $ per gal. Feb 1.7775 1.8245 A 1.7764 1.7784 .0092 March 1.7691 1.8160 A 1.7690 1.7714 .0104 Gasoline-NY RBOB (NYM)-42,000 gal.; $ per gal. Feb 1.3585 1.3945 1.3389 1.3408 -.0070 March 1.3716 1.4080 1.3524 1.3541 -.0077 Natural Gas (NYM)-10,000 MMBtu: $ per MMBtu. Feb 2.932 2.994 2.910 2.944 -.100 March 2.812 2.886 2.793 2.847 -.058 April 2.650 2.708 2.640 2.677 -.011 May 2.637 2.687 2.625 2.662 -002 July 2.718 2.765 2.708 2.746 -.007 Oct 2.7 10 2.761 2.698 2.751 -.016 March 319,791 Jan Open Coffee (ICE-US)-37,500 lbs., cents per lb. interest March 101.50 103.45 A 101.15 102.75 1.15 127,138 May 104.40 106.55 A 104.30 105.75 1.10 60,630 Sugar-World (ICE-US)-112,000 lbs., cents per lb. 1,756 March 11.95 12.67 A 11.94 12.65 .72 389,965 12.04 12.73 A 12.03 12.72 .70 188,201 Sugar-Domestic (ICE-US)-112,000 lbs., cents per lb. 353 March 25.40 25.40 A 25.34 302.111 25.40 .04 2.718 May 25.50 25.54 A 25.50 25.50 -.01 2,455 43,689 10,837 Cotton (ICE-US)-50,000 lbs.; cents per lb. 9,830 March 72.52 73.92 A 72.48 72.75 .23 126,870 May 73.99 3,090 75.23 A 73.92 74.10 .16 39,088 Orange Juice (ICE-US)-15,000 lbs., cents per lb. 24.797 Jan 121.20 122.00 121.15 121.95 .65 582 March 122.85 123.75 124.80 3,313 123.85 .55 14.103 Interest Rate Futures 261 85,951 Treasury Bonds (CBT)-$100,000; pts 32nds of 100% March 146-230 147-170 146-040 146-160 -12.0 949,992 June 146-160 146-190 145-300 145-270 -13.0 820 61 142,916 Treasury Notes (CBT)$100,000; pts 32nds of 100% March 122-060 122-150 121-290 122-015 -8.0 4.102,583 June 122-150 122-240 367.400 -7.5 122-065 122-105 2,418 5 Yr. Treasury Notes (CBT)-$100,000; pts 32nds of 100% 136,259 March 114-215 114-280 114-155 114-187 -5.5 4,590,715 115,849 2 Yr. Treasury Notes (CBT)-$200,000; pts 32nds of 100% 229.259 March 106-045 106-065 106-010 106-025 -2.7 2.552,998 191,808 30 Day Federal Funds (CBT)-$5,000,000; 100-daily avg. Jan 97.600 97.600 97.598 97.598 -.002 317,562 109,341 April 97.605 97.615 97.600 97,605 -.005 310,713 73,598 10 Yr. Del. Int. Rate Swaps (CBT)-$100,000; pts 32nds of 100% March 102.766 102.797 102.297 102.391 -219 27,938 120,856 1 Month Libor (CME)-$3,000,000; pts of 100% 88,591 ... 97.4875 .0075 535 Eurodollar (CME)-$1,000,000; pts of 100% 174,258 Jan 97.2300 97.2375 97.2250 97.2300 .0050 268.383 270,970 March 97.2850 97.3150 97.2850 97.3000 .0050 1,429,121 148,613 June 97.3050 97.3450 97.2900 97.3150 -- 1,252,674 132.474 Dec 97.3650 97.4100 97.3250 97.3550 -.0250 1,740,407 62,540 105,445 Currency Futures Japanese Yen (CME) W12,500,000; $ per 100% Jan .9228 .9257 .9211 .9213-0008 1,190 March .9272 9310 .9247 9259 -.0009 222,921 751,642 Canadian Dollar (CME-CAD 100,000: $ per CAD 242.635 Jan .7479 .7530 A .7479 .7522 .0054 723 March .7484 7794 .7544 A 7484 .7533 .0054 166,071 4,124 British Pound (CME)- 62,500; $ per 638 Jan 1.2747 1.2775 A 1.2729 1.2775 .0031 2,616 March 1.2780 1.2832 A 1.2764 1.2815 .0031 204.679 3.422 337,323 Swiss Franc (CME)-CHF 125,000: $ per CHF March 1.0206 1.0285 A 1.0200 1.0277 .0071 66,727 un June 1.0330 1.0369 A 1.0292 .0071 95 1.798 Australian Dollar (CME-AUD 100,000; $ per AUD 193,399 Jan .7125 .7150 A 7124 .7143 .0026 331 Feb .7135 .7148 A 7135 .7147 0026 680 972 March 7129 .7158 A7122 .7150 .0026 124,074 219,566 April .7144 .7149 A 7144 .7153 .0026 253 June .7133 .7160 A 7133 .7160 .0027 661 7,164 .7147 .7161 A 7147 .7169 .0026 121 102 Mexican Peso (CME)-MXN 500,000; $ per MXN March .05107 .05129 A .05084 .05113.00014 161,111 229,028 June .04890 .04905 A .04887 .05035 .00013 35 76,657 Euro (CME)-125,000; $ per Jan 1.1415 1.1488 1.1415 1.1486 .0079 1,938 182.341 March 1.1475 1.1551 1.1471 1.1547 .0079 489,919 55.722 Index Futures 33.947 Mini DJ Industrial Average (CBT)-$5 X index 13,177 March 23470 23668 A 23279 23512 117 72,535 Dec 23523 23686 A 23350 23530 118 544 8,483 S&P 500 Index (CME)-$250 X index 25,193 March 2536.70 2567.00 A 2525.00 2550.60 19.30 39.216 Mini S&P 500 (CME)-$50 x index 129,414 March 2537.25 2567.50 A 2523.25 2550.50 19.20 2,634,252 115,863 June 2540.25 2571.25 A 2528.50 2555.00 June 19.40 27.554 Mini S&P Midcap 400 (CME-$100 x index 79,843 March 1690.00 1717.10 A 1679.20 1703.30 17.70 69,276 60,839 Mini Nasdaq 100 (CME)-$20 x index March 6451.3 6535.8 A 6402.5 6496.5 62.5 196,948 398 June 6471.5 6557.0 A 6427.0 6520.8 63.8 1,350 2,724 Mini Russell 2000 (CME)-$50 x index March 1384.40 1414.60 A 1375.80 1405.90 24.30 465,350 4,391 June 1391.60 1417.90 A 1386.80 1410.50 25.00 534 4,095 Mini Russell 1000 (CME)-$50 x index March 1402.00 1418.90 1402.00 1409.80 10.70 7,664 96,443 U.S. Dollar Index (ICE-US)-$1,000 x index 51,809 March 95.71 95.73 95.20 95.23 -.52 57,402 June 95.08 95.08 ) 94.75 94.74 -.51 945 1.0368 -.13 Sept Agriculture Futures Corn (CBT)-5,000 bu., cents per bu. March 382.25 384.00 A 381.75 382.25 -.75 July 397.50 399.00 A 397.00 397.50 -.75 Oats (CBT)-5,000 bu., cents per bu. March 279.50 280.25 276.50 279.50 - 50 May 279.50 279.50 274.00 276.00 -4.25 Soybeans (CBT)-5,000 bu.; cents per bu. Jan 909.50 915.75 A 909.50 912.25 004 2.75 March 921.00 927.75 A 920.75 924.25 2.75 Soybean Meal (CBT)-100 tons.; $ per ton. Jan 316.00 319.30 A 316.00 318.20 3.10 March 319.40 323.30 A 319.20 322.20 3.20 Soybean Oil (CBT)-60,000 lbs., cents per lb. Jan 28.47 28.55 A 28.26 28.26 -.15 March 28.70 28.80 A 28.47 28.51 Rough Rice (CBT)-2,000 cwt.; $ per cwt. March 1048.00 1069.00 A 1048.00 1066.50 18.50 May 1071.50 1083.50 A 1071.50 1082.50 18.50 Wheat (CBT)-5,000 bu.; cents per bu. March 518.00 518.50 513.50 -25 July 530.50 530,50 July 525.50 527.00 -2.50 Wheat (KC)-5,000 bu.; cents per bu. March 506.25 507.25 500.50 503.00 -3.00 May 517.50 518.75 512.00 514.50 -3.00 Wheat (MPLS) 5,000 bu., cents per bu. March 570.25 572.00 565.50 568.00 -2.25 May 575.50 577.25 570.75 573.25 -2.25 Cattle-Feeder (CME)-50,000 lbs., cents per lb. Jan san 144.600 146.325 144.200 146.000 1.100 March 142.150 144.425 142.000 143.900 1.075 Cattle-Live (CME)-40,000 lbs., cents per lb. Feb 121.800 123.400 121.425 123.200 1.275 April 123.850 125.375 123.500 125.075 1.075 Hogs-Lean (CME)-40,000 lbs., cents per lb. Feb 61.950 62.150 61.250 61.900 -.050 April 66.700 66.900 65.825 66.375 -.375 Lumber (CME-110,000 bd.ft: $ per 1,000 bd. ft. Jan 326.20 326.20 323.00 324.80 1.20 March 332.20 333.00 328.00 330.80 .90 Milk (CME)-200,000 lbs. cents per lb. Jan 14.16 14.26 14.12 14.14 -.11 Feb 14.72 14.73 14.55 14.57 -.17 Cocoa (ICE-US)-10 metric tons: $ per ton. March 2,362 2,413 2,356 2,410 49 May 2,395 2,449 2,394 2,447 49 516.75 - Refer to the Mini-S&P contract in Figure 22.1. Assume the closing price for this day. a. If the margin requirement is 16% of the futures price times the contract multiplier of $50, how much must you deposit with your broker to trade the June maturity contract? (Round your answer to the nearest whole dollar.) Required margin deposit b. If the June futures price increases to 2601.00, what percentage return will you earn on your investment if you entered the long side of the contract at the price shown in the figure? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Percentage return on net investment c. If the June futures price falls by 1%, what is your percentage return? (Negative amount should be indicated by a minus sign. Do not round intermediate calculations. Round your answer to 2 decimal places.) Percentage return on net investment % 138,638 May Contract Open High hilo low Settle Chg Copper-High (CMX)-25,000 lbs.: $ per lb. Jan 2.6445 2.6460 2.6410 2.6410 -0.0105 March 2.6500 2.6595 2.6315 2.6370 -0.0105 Gold (CMX)-100 troy oz: $ per troy oz. Jan 1284.90 1286.80 4.10 Feb 1287.00 1297.00 1284.10 1289.90 4.10 June 1298.90 1309.00 1298.50 1302.90 4.20 Aug 1310.00 1315.10 1307.80 1309.00 4.10 Dec 1317.60 1326.80 1317.60 1321.50 4.10 Feb 20 1327.90 1331.00 1327.30 1327.70 4.20 Palladium (NYM)-50 troy oz. $ per troy oz. March 1242.40 1249.40 A 1230.80 1240.20 5.80 June 1226.20 1231.90 1216.10 1224.30 4.70 Platinum (NYM)-50 troy oz.: $ per troy oz. Jan 824.20 825.40 A 821.00 818.40 -3.60 April 0973 827.20 836.50 A 823.30 824.30 -2.90 Silver (CMX)-5,000 troy oz.; $ per troy oz. Jan 15.750 15.750 A 15.750 15.669 -0.026 March 15.800 15.880 15.680 15.756 -0.030 Crude Oil, Light Sweet (NYM)-1,000 bbls.; $ per bbl. Feb 48.22 49.79 A 48.11 48.52 0.56 48.49 50.11 A 48.44 48.82 0.54 April 48.85 50.47 A 48.80 49.17 0.52 May 49.32 50.90 A 49.32 49.60 0.50 June 49.79 51.33 A 49.72 50.04 0.48 Dec 51.32 52.77 A 51.30 51.48 0.40 NY Harbor ULSD (NYM)-42,000 gal.; $ per gal. Feb 1.7775 1.8245 A 1.7764 1.7784 .0092 March 1.7691 1.8160 A 1.7690 1.7714 .0104 Gasoline-NY RBOB (NYM)-42,000 gal.; $ per gal. Feb 1.3585 1.3945 1.3389 1.3408 -.0070 March 1.3716 1.4080 1.3524 1.3541 -.0077 Natural Gas (NYM)-10,000 MMBtu: $ per MMBtu. Feb 2.932 2.994 2.910 2.944 -.100 March 2.812 2.886 2.793 2.847 -.058 April 2.650 2.708 2.640 2.677 -.011 May 2.637 2.687 2.625 2.662 -002 July 2.718 2.765 2.708 2.746 -.007 Oct 2.7 10 2.761 2.698 2.751 -.016 March 319,791 Jan Open Coffee (ICE-US)-37,500 lbs., cents per lb. interest March 101.50 103.45 A 101.15 102.75 1.15 127,138 May 104.40 106.55 A 104.30 105.75 1.10 60,630 Sugar-World (ICE-US)-112,000 lbs., cents per lb. 1,756 March 11.95 12.67 A 11.94 12.65 .72 389,965 12.04 12.73 A 12.03 12.72 .70 188,201 Sugar-Domestic (ICE-US)-112,000 lbs., cents per lb. 353 March 25.40 25.40 A 25.34 302.111 25.40 .04 2.718 May 25.50 25.54 A 25.50 25.50 -.01 2,455 43,689 10,837 Cotton (ICE-US)-50,000 lbs.; cents per lb. 9,830 March 72.52 73.92 A 72.48 72.75 .23 126,870 May 73.99 3,090 75.23 A 73.92 74.10 .16 39,088 Orange Juice (ICE-US)-15,000 lbs., cents per lb. 24.797 Jan 121.20 122.00 121.15 121.95 .65 582 March 122.85 123.75 124.80 3,313 123.85 .55 14.103 Interest Rate Futures 261 85,951 Treasury Bonds (CBT)-$100,000; pts 32nds of 100% March 146-230 147-170 146-040 146-160 -12.0 949,992 June 146-160 146-190 145-300 145-270 -13.0 820 61 142,916 Treasury Notes (CBT)$100,000; pts 32nds of 100% March 122-060 122-150 121-290 122-015 -8.0 4.102,583 June 122-150 122-240 367.400 -7.5 122-065 122-105 2,418 5 Yr. Treasury Notes (CBT)-$100,000; pts 32nds of 100% 136,259 March 114-215 114-280 114-155 114-187 -5.5 4,590,715 115,849 2 Yr. Treasury Notes (CBT)-$200,000; pts 32nds of 100% 229.259 March 106-045 106-065 106-010 106-025 -2.7 2.552,998 191,808 30 Day Federal Funds (CBT)-$5,000,000; 100-daily avg. Jan 97.600 97.600 97.598 97.598 -.002 317,562 109,341 April 97.605 97.615 97.600 97,605 -.005 310,713 73,598 10 Yr. Del. Int. Rate Swaps (CBT)-$100,000; pts 32nds of 100% March 102.766 102.797 102.297 102.391 -219 27,938 120,856 1 Month Libor (CME)-$3,000,000; pts of 100% 88,591 ... 97.4875 .0075 535 Eurodollar (CME)-$1,000,000; pts of 100% 174,258 Jan 97.2300 97.2375 97.2250 97.2300 .0050 268.383 270,970 March 97.2850 97.3150 97.2850 97.3000 .0050 1,429,121 148,613 June 97.3050 97.3450 97.2900 97.3150 -- 1,252,674 132.474 Dec 97.3650 97.4100 97.3250 97.3550 -.0250 1,740,407 62,540 105,445 Currency Futures Japanese Yen (CME) W12,500,000; $ per 100% Jan .9228 .9257 .9211 .9213-0008 1,190 March .9272 9310 .9247 9259 -.0009 222,921 751,642 Canadian Dollar (CME-CAD 100,000: $ per CAD 242.635 Jan .7479 .7530 A .7479 .7522 .0054 723 March .7484 7794 .7544 A 7484 .7533 .0054 166,071 4,124 British Pound (CME)- 62,500; $ per 638 Jan 1.2747 1.2775 A 1.2729 1.2775 .0031 2,616 March 1.2780 1.2832 A 1.2764 1.2815 .0031 204.679 3.422 337,323 Swiss Franc (CME)-CHF 125,000: $ per CHF March 1.0206 1.0285 A 1.0200 1.0277 .0071 66,727 un June 1.0330 1.0369 A 1.0292 .0071 95 1.798 Australian Dollar (CME-AUD 100,000; $ per AUD 193,399 Jan .7125 .7150 A 7124 .7143 .0026 331 Feb .7135 .7148 A 7135 .7147 0026 680 972 March 7129 .7158 A7122 .7150 .0026 124,074 219,566 April .7144 .7149 A 7144 .7153 .0026 253 June .7133 .7160 A 7133 .7160 .0027 661 7,164 .7147 .7161 A 7147 .7169 .0026 121 102 Mexican Peso (CME)-MXN 500,000; $ per MXN March .05107 .05129 A .05084 .05113.00014 161,111 229,028 June .04890 .04905 A .04887 .05035 .00013 35 76,657 Euro (CME)-125,000; $ per Jan 1.1415 1.1488 1.1415 1.1486 .0079 1,938 182.341 March 1.1475 1.1551 1.1471 1.1547 .0079 489,919 55.722 Index Futures 33.947 Mini DJ Industrial Average (CBT)-$5 X index 13,177 March 23470 23668 A 23279 23512 117 72,535 Dec 23523 23686 A 23350 23530 118 544 8,483 S&P 500 Index (CME)-$250 X index 25,193 March 2536.70 2567.00 A 2525.00 2550.60 19.30 39.216 Mini S&P 500 (CME)-$50 x index 129,414 March 2537.25 2567.50 A 2523.25 2550.50 19.20 2,634,252 115,863 June 2540.25 2571.25 A 2528.50 2555.00 June 19.40 27.554 Mini S&P Midcap 400 (CME-$100 x index 79,843 March 1690.00 1717.10 A 1679.20 1703.30 17.70 69,276 60,839 Mini Nasdaq 100 (CME)-$20 x index March 6451.3 6535.8 A 6402.5 6496.5 62.5 196,948 398 June 6471.5 6557.0 A 6427.0 6520.8 63.8 1,350 2,724 Mini Russell 2000 (CME)-$50 x index March 1384.40 1414.60 A 1375.80 1405.90 24.30 465,350 4,391 June 1391.60 1417.90 A 1386.80 1410.50 25.00 534 4,095 Mini Russell 1000 (CME)-$50 x index March 1402.00 1418.90 1402.00 1409.80 10.70 7,664 96,443 U.S. Dollar Index (ICE-US)-$1,000 x index 51,809 March 95.71 95.73 95.20 95.23 -.52 57,402 June 95.08 95.08 ) 94.75 94.74 -.51 945 1.0368 -.13 Sept Agriculture Futures Corn (CBT)-5,000 bu., cents per bu. March 382.25 384.00 A 381.75 382.25 -.75 July 397.50 399.00 A 397.00 397.50 -.75 Oats (CBT)-5,000 bu., cents per bu. March 279.50 280.25 276.50 279.50 - 50 May 279.50 279.50 274.00 276.00 -4.25 Soybeans (CBT)-5,000 bu.; cents per bu. Jan 909.50 915.75 A 909.50 912.25 004 2.75 March 921.00 927.75 A 920.75 924.25 2.75 Soybean Meal (CBT)-100 tons.; $ per ton. Jan 316.00 319.30 A 316.00 318.20 3.10 March 319.40 323.30 A 319.20 322.20 3.20 Soybean Oil (CBT)-60,000 lbs., cents per lb. Jan 28.47 28.55 A 28.26 28.26 -.15 March 28.70 28.80 A 28.47 28.51 Rough Rice (CBT)-2,000 cwt.; $ per cwt. March 1048.00 1069.00 A 1048.00 1066.50 18.50 May 1071.50 1083.50 A 1071.50 1082.50 18.50 Wheat (CBT)-5,000 bu.; cents per bu. March 518.00 518.50 513.50 -25 July 530.50 530,50 July 525.50 527.00 -2.50 Wheat (KC)-5,000 bu.; cents per bu. March 506.25 507.25 500.50 503.00 -3.00 May 517.50 518.75 512.00 514.50 -3.00 Wheat (MPLS) 5,000 bu., cents per bu. March 570.25 572.00 565.50 568.00 -2.25 May 575.50 577.25 570.75 573.25 -2.25 Cattle-Feeder (CME)-50,000 lbs., cents per lb. Jan san 144.600 146.325 144.200 146.000 1.100 March 142.150 144.425 142.000 143.900 1.075 Cattle-Live (CME)-40,000 lbs., cents per lb. Feb 121.800 123.400 121.425 123.200 1.275 April 123.850 125.375 123.500 125.075 1.075 Hogs-Lean (CME)-40,000 lbs., cents per lb. Feb 61.950 62.150 61.250 61.900 -.050 April 66.700 66.900 65.825 66.375 -.375 Lumber (CME-110,000 bd.ft: $ per 1,000 bd. ft. Jan 326.20 326.20 323.00 324.80 1.20 March 332.20 333.00 328.00 330.80 .90 Milk (CME)-200,000 lbs. cents per lb. Jan 14.16 14.26 14.12 14.14 -.11 Feb 14.72 14.73 14.55 14.57 -.17 Cocoa (ICE-US)-10 metric tons: $ per ton. March 2,362 2,413 2,356 2,410 49 May 2,395 2,449 2,394 2,447 49 516.75