Question $7$

$3\mathrm{.}7pts$

There is an initial margin requirement of $15\%$ on the purchase of a $$98,146$ value interest rate futures contract with a $$100,000$ underlying par value bond. If the futures contract value rises to $$102,146,$ what is your percentage gain $((+-)$ or loss $(-)$ if you close out your position?

$+24\mathrm{.}45\%$

$+27\mathrm{.}17\%$

$-24\mathrm{.}45\%$

$-27\mathrm{.}17\%$

Question $8$

$3\mathrm{.}7pts$

What is the margin deposit on a futures contract priced at $$97,546$ and a $15\%$ initial margin