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Needs to be done in LONG and SHORT position: ASSUME TODAY'S SETTLEMENT PRICE ON A...

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Finance

Needs to be done in LONG and SHORT position:

ASSUME TODAY'S SETTLEMENT PRICE ON A CME CDN ($100,000 CANADIAN DOLLAR) FUTURES CONTRACT IS US$0.9400/CAD$. YOU HAVE A SHORT POSITION IN ONE CONTRACT. YOUR MARGIN ACCOUNT CURRENTLY HAS A BALANCE OF US$1700. THE NEXT THREE DAYS' SETTLEMENT PRICES ARE: US$0.9386 US$0.9393 US$0.9309 CALCULATE THE CHANGES IN THE MARGIN ACCOUNT FROM DAILY MARKING-TO-MARKET AND THE BALANCE OF MARGIN ACCOUNT AFTER THE THIRD DAY. CHANGE IN DAY1? CHANGE IN DAY2? CHANGE IN DAY3? BALANCE ON DAY 3?

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