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You have taken the long side in ten Acme Inc. futures contract. Each contract covers 50 shares of Acme Inc. The contract price is $50 per share. Each contract requires a deposit of $150 initial margin & has a maintenance margin of $100
Following are the price increase/decrease for the next 3 days.
Day 1 - 50 cents decrease
Day 2 - 80 cents decrease
Day 3 - $ 1 increase
What is the balance in the margin account at the end of 3rd day?