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A trader enters a long position on 3 units of Brent Crude Oil futures contracts...

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A trader enters a long position on 3 units of Brent Crude Oil futures contracts (1000 barrels per contract) on the opening of 01/03/2022 when the futures price is $39 per barrel. The initial margin is 10%. The margin account earns interest of 2% compounded continuously. The maintenance margin is 60%. a. Calculate the profit and the margin account balance at the end of 03/03/2022 Date Futures Closed Price 01/03/2022 $38 02/03/2022 $37 03/03/2022 $40 b. Find the lowest value of futures price on 02/03/2022 that prevents the margin call

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