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Problem # 4: At the beginning of a trading day, you bought 500 shares of Jasper stock at $41 a share, 100 shares of Tasper

Problem # 4: At the beginning of a trading day, you bought 500 shares of Jasper stock at $41 a share, 100 shares of Tasper at $10 a share, and 200 shares of Casper at $20 a share. Your initial margin is 60 percent and the maintenance margin is 40 percent. Assume that your initial equity is equal to the initial margin requirement. At the end of the day, the closing price of Jasper share was $42 a share and that of Tasper was $8 a share. And the margin balance of your account was 58 percent. What was the price of Casper per share at the end of the trading day? Prepare the balance sheet using the prices at the end of the day and show that your accounts margin is 58%. Ignore the interest payments on the margin loan.

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