Assume that on Friday, August 1, you buy one Chicago Board of Trade September Treasury bond futures contract at the opening price of $97800. The initial margin requirement is $2500 and the maintenance margin requirement is $2000. The settlement price of the contract at closing on that day is $97400. The settlement price of the contract at closing on the next business day (August 4) is $98000. Your margin account balance at the end of the day on August 4 is $_______

Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter27: Investment, The Capital Market, And The Wealth Of Nations
Section: Chapter Questions
Problem 9CQ
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Assume that on Friday, August 1, you buy one Chicago Board of Trade September Treasury bond futures contract at the opening price of $97800. The initial margin requirement is $2500 and the maintenance margin requirement is $2000. The settlement price of the contract at closing on that day is $97400. The settlement price of the contract at closing on the next business day (August 4) is $98000. Your margin account balance at the end of the day on August 4 is $_______

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