An Investor Bought a March S&P 500 Index Futures Contract

Multiple Choice

An investor bought a March S&P 500 Index futures contract in December for $1,490.05. After six months the contract value went up to $1,539.95. The contract has a multiplier of 250. With an initial margin of $20,000, what is the percent return on margin?

A) 62.38%
B) 60.32%
C) 7.70%
D) 7.45%
E) 6.32%