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S&P 500 futures contracts currently trade at 3,300. Each contract has a multiplier of $250....

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Finance

S&P 500 futures contracts currently trade at 3,300. Each contract has a multiplier of $250. You bought four contracts today and posted an initial margin of $20,000. Your broker tells you that you will need to inject further equity into the margin account if the balance falls to $8,500, or below. What is the first S&P 500 futures level at which you receive a margin call?

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