How low can the price of galaxy shares fall, Finance Basics

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How low can the price of galaxy shares fall

Problem

You have borrowed 30000 on margin to buy share of Galaxy co, which is now selling $40 per share. You account start with initial margin of 50%. The maintenance margins 30%. One week later, the stock price falls to $30 per share.

i. Will you receive a margin call?
ii. How low can the price of Galaxy shares fall before you receive a margin call?

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Finance Basics: How low can the price of galaxy shares fall

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Finance Basics: How low can the price of galaxy shares fall

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