Question: (Problem 1, 15 points) The table shows the behavior of a futures contract on Australian dollars (A$). Suppose you entered into the futures contract to

(Problem 1, 15 points) The table shows the behavior of a futures contract on Australian dollars (A$). Suppose you entered into the futures contract to buy A$100,000 (Contract size = A$100,000) at $0.7078/A$ on November 8, 2018. The initial performance bond is $1,375 and the maintenance level is $1,250. a. Fill the columns below based on the price history of this contract. Please show your calculations below (8 points). Date Settlement price (S/AS) Gain/Loss ($) Balance ($) 11/08/18 0.7078 1,375 11/09/18 0.7103 11/12/18 0.7063 11/13/18 0.7124 11/14/18 0.7119 11/15/18 0.7107 11/16/18 0.7131 b. (3 points) On which date did you need to deposit additional funds to maintain your contract position? What's the amount of the additional funds needed to be deposited into your performance bond account? c. (4 points) Suppose you closed out this futures contract on November 16, 2018 (you were holding the contract position until November 16, 2018). Calculate your total gain or loss from this futures contract
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