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PLEASE HELP ME ANSWER THIS QUESTION. THANK YOU VERY MUCH!! Q17*. (Short Sale): You recently borrowed an asset and sold it at $200 (short sale).

PLEASE HELP ME ANSWER THIS QUESTION. THANK YOU VERY MUCH!!image text in transcribed

Q17*. (Short Sale): You recently borrowed an asset and sold it at $200 (short sale). The initial margin requirement was 80% of the deal and you will get a margin call if the balance on the margin account goes below 60% of the deal (It the balance goes higher than the initial margin, you can take the difference from the margin account). The prices of the asset for the past three days after the short sale were $150, $220 and $260. Calculate how much money will be on your margin account after the third day. Also determine whether you had a margin call or not (You will not default on this short sale)

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