Question 1 15 points The multiplier for the S&P500 index futures is $250 per index point. The maturity of the contract is 1 year. Today, you buy a futures contract when the S&P 500 index is at 4185. The risk-free rate is 1.70% and the dividend yield on S&P500 stocks is 1.85%. a. What is the futures price today? (round to 2 decimal places) Futures price today b. Over the next five days, the futures price evolves as follows: 4200.50, 4198.75, 4201.25, 4204.50, 4207.75. What is the gain deposited to (or loss subtracted from) the account on day 3? (round to nearest dollar) Day 3 gain or loss 625 You're so smart! c. What is the cumulative gain or loss after day 5? (to nearest dollar) Cumulative gain/loss after day 5 d. What is the cumulative return on this futures position after day 5, if initial margin is $25,000? Return (in % with 2 decimal places, e.g., 1.23%) Question 1 15 points The multiplier for the S&P500 index futures is $250 per index point. The maturity of the contract is 1 year. Today, you buy a futures contract when the S&P 500 index is at 4185. The risk-free rate is 1.70% and the dividend yield on S&P500 stocks is 1.85%. a. What is the futures price today? (round to 2 decimal places) Futures price today b. Over the next five days, the futures price evolves as follows: 4200.50, 4198.75, 4201.25, 4204.50, 4207.75. What is the gain deposited to (or loss subtracted from) the account on day 3? (round to nearest dollar) Day 3 gain or loss 625 You're so smart! c. What is the cumulative gain or loss after day 5? (to nearest dollar) Cumulative gain/loss after day 5 d. What is the cumulative return on this futures position after day 5, if initial margin is $25,000? Return (in % with 2 decimal places, e.g., 1.23%)