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Shalnov [3]
3 years ago
9

Suppose that you just purchased 150 shares of XYZ stock for $60 per share. a. If the initial margin requirement is 71.00%, how m

uch money must you borrow?
Business
1 answer:
Kisachek [45]3 years ago
5 0

Answer:

$2,610

Explanation:

Calculation for how much money you must borrow.

Using this formula

Amount to be borrowed =( Purchased shares* Per share price*(Initial margin requirement percentage)

Let plug in the formula

Amount to be borrowed= 150 shares*$60 per shares *(1-0.71)

Amount to be borrowed=$9,000*(0.29)

Amount to be borrowed=$2,610

Therefore how much money you must borrow will be $2,610

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3 years ago
Franz ask Joe if he will paint his office building for $1000. Joe says he will do it for $2000. Joe's response is called
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4 0
3 years ago
During a recent hurricane, 25 individuals of the same butterfly species were blown onto a barrier island in southern florida. du
zubka84 [21]

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6 0
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ThingOne Company has the following information available for the past year. They use machine hours to allocate overhead. Actual
frozen [14]

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