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lawyer [7]
3 years ago
11

In a new margin account, a customer buys 300 shares of ABC at $40 per share, 100 shares of the Ajax Mutual Fund at $24, and 10 P

DQ Aug 30 calls at 4. The customer will receive a margin call for:_______.
a. 12,400.
b. 10,800.
c. 9,200.
d. 4,400.
Business
1 answer:
never [62]3 years ago
3 0

Answer: 12400

Explanation:

It should be noted that 50% of the stick value will be paid by the customer and also 100% of the mutual fund shares value will also be paid because they are nonmarginable securities.

Therefore, 50% of $12,000 = $6,000

Total payment required will now be:

= $6,000 + $2,400 + $4,000

= $12,400.

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