Question 1. Margin Account and Settlement (6 marks) Suppose that you bought two one-year gold futures contracts when the one year futures price of gold was US41,340.30 per troy ounce. You then closed the position at the end of the sixth Trading day The initial margin requirement is US$5.9-40 per contract. and the maintenance margin requirement is US$5.100 per contract, One contract is for 100 trey ounces of gold. The dally prices on the intervening trading days are shown in the following table. Settlement Price DE OFET 1 13015 50 1339 20 09 DEET 1327 70 OC LEET 130 60 Assume that you deposit the initial manyin and do not withdraw the excess on any given day Whenever a margin call occurs on Day t, you would make a deposit to bring the balance up to meet the initial margin requirement at the start of trading on Day t+1, Le., the next day. What are the initial margin and maintenance margin on your margin account? (1 mark] Fill the appropriate numbers in the blank cells in the following table. (Hint: Sec solution to Q19 in Lesson 2 Learning Activity. (4marks] Settlemen Mark to Other Account Explanation Margi t price per Market Entries Balance in Call? troy ounce Y/N $1340.30 $1345.50 $1339.20 $1330.60 $1327.70 $1337.70