In example of futures contract with initial and maintenance margin- after mtm loss of USD 768, will 768 USD need to be deposited or just 8500-8106=394 USD
Because it is trying to compute the present value of the contract. It is the equivalent notation as putting the discount rate in the denominator. The CFA changed the notation apparently, but, the main point, is that if it is to the power of negative, it is computing the Present Value.
