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Problem $3-10$ Margin for Long Position

A stock sells for $$10\mathrm{.}00$ per share. You purchase $100$ shares using a $50\%$ margin. A year later, the price has risen to $$20\mathrm{.}00.$ This information

is displayed in the following table:

$($a$)$ What is the initial equity you must have to initiate the trade?

You must have an initial equity of $$,$ to initiate the trade.

$($b$)$ What is your percent equity position at the end of the year?

At the end of the year your percent equity position is

$\%.$ Round your answer to $2$ decimal places.