How much do you have to deposit with your broker when you, Financial Management

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How much do you have to deposit with your broker when you

You buy one futures contract for euros on the Chicago Mercantile Exchange at $1.15 per euro. The initial margin requirement is 4% and the maintenance margin is 75%.

a. How much do you have to deposit with your broker when you buy the contract?

b. Below what price will you receive a margin call?

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