Question: Questions 8 to 10 are based on the same information. Suppose that you enter into THREE futures contracts to BUY July silver for $10.20 per

Questions 8 to 10 are based on the same information. Suppose that you enter into THREE futures contracts to BUY July silver for $10.20 per ounce on the New York Commodity Exchange. The size of the contract is 5,000 ounces. The initial margin is $4,000 for each contract, and the maintenance margin is $3,000 for each contract. Questions 8 to 10 are based on the same information Suppose that you enter into JHREE futures contracts to BUY July silver for $10.20 per ounce on the New York Commodity Exchange. The size of the contract is 5,000 ounces. The initial margin is $4,000 for each contract, and the maintenance margin is $3.000 for each contract. Question 8 What is the total initial balance on your margin account for the three futures contracts

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