You purchase eight contracts on 150 troy ounces at price of $412 per ounce. The initial margin is $1,500 per contract, and the maintenance margin is $1,200 per contract. The closing price the next day is $417 per ounce. What is your new margin balance?
A) $12,000
B) $12,400
C) $18,000
D) $21,000
E) $14,000

Question

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The Answer of You purchase eight contracts on 150 troy ounces at price of $412 per ounce. The initial margin is $1,500 per contract, and the maintenance margin is $1,200 per contract. The closing price the next day is $417 per ounce. What is your new margin balance?
A) $12,000
B) $12,400
C) $18,000
D) $21,000
E) $14,000

You Purchase Eight Contracts on 150 Troy Ounces at Price