These are the only 2 problems I can't figure out myself. I need help fast!

1.) At the end of day one a clearinghouse member is long 200 contracts. The settlement price is $50,000 per contract. The original margin was $10,000 per contract. On the following day, 100 more contracts were purchased for $52,500 per contract at the market open. The settlement at the end of the second day was $51,000. How much in total does the member have to add to their margin account with the exchange clearinghouse at the end of the second day?

2.) Suppose that there are no insurance costs for owning corn and the interest rate for borrowing or lending is 12% per year, or 1% per month. Assume storage costs for corn are 2.) Suppose that there are no insurance costs for owning corn and the interest rate for borrowing or lending is 12% per year, or 1% per month. Assume storage costs for corn are $0.01 per bushel per month. How could you make a profit by trading April 2009 contracts and May 2009 contracts? The April 2009 contract sells for 240 cents per bushel. The May 2009 contract sells for 248 cents per bushel..01 per bushel per month. How could you make a profit by trading April 2009 contracts and May 2009 contracts? The April 2009 contract sells for 240 cents per bushel. The May 2009 contract sells for 248 cents per bushel.


Thank you!