Question: please give solution to the following questions step by step.. please do not plagiarize Assume today's settlement price on a CME CDN (Canadian dollar) futures

please give solution to the following questions step by step.. please do not plagiarize

Assume today's settlement price on a CME CDN (Canadian dollar) futures contract is US$0.94 10/C$. You have a SHORT position in one contract. Your margin account currently has a balance of US$1,700. The next three days' settlement prices are: Day 1: US$0.9386 Day 2: US$0.9393 Day 3: US$0.9309. The contract size of a Canadian dollar futures contract is C$100,000. 1. Calculate the changes in the margin account from daily marking-to-market and the balance of the margin account after the third day. Changes after Day 1: Changes after Day 2: Changes after Day 3: Balance of Margin account end of Day 3: 2. Repeat the problem assuming you have a LONG position in the futures contract Changes after Day 1: Changes after Day 2: Changes after Day 3: Balance of Margin account end of Day 3

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