What is the change in margin account balance for the trader

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In November 2015 a trader buys five March 2016 E-mini S&P 500 Futures contracts at 2104.25. A single E-mini S&P 500 futures contract equals ($50) x (Index Value). The initial margin is $5,060 and the maintenance margin is $4,600 per contract. In January 2016, the futures price of the index drops to 1,805. What is the change in the margin account balance (indicate gain or loss) for the trader? Is there a margin call for the trader and if so how much does she need to deposit in the margin account?

Reference no: EM131010275

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