Multiple Choice
Will purchased 3 futures contracts on corn. The contract size is 5,000 bushels and the price is quoted in cents per bushel. Assume the initial margin requirement is 4.5% of the contract value. What is the amount of the initial margin if the futures quote is 624?
A) $140.40
B) $421.20
C) $1,404
D) $2,808
E) $4,212
Correct Answer:
Verified
Correct Answer:
Verified
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