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3 years ago

A customer buys 100 shares of ABC at $17 as the initial transaction in a new margin account. The customer must deposit:______

Business

1 answer:

Elena L [17]3 years ago

3 0

Answer:

$1,700

Explanation:

Although the minimum equity to open a long margin account is $2,000. However, this does not apply if the securities in the account are paid fully.

It will amount to potential loss if a customer is asked to deposit more than 100% when buying. Since the customer wants to buy 1,700 of stock, it means that 100% or $1,700 (100 shares × $17) must be deposited.

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If you have any questions feel free to ask in the comments - Mark

Also when you have the chance please mark me brainliest.

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