Question

You post the required initial margin of $2099 per contract and buy 2 wheat futures contracts...

You post the required initial margin of $2099 per contract and buy 2 wheat futures contracts for 5,000 bushels of wheat each at a futures price of $7.176 per bushel. At the close of the trading day, the futures price is $7.274. What is your account balance at the close of the day? Assume no margin calls.

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