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horrorfan [7]
3 years ago
10

Assume you purchased 900 shares of XYZ common stock on margin at $90 per share from your broker. If the initial margin is 65%, t

he amount you borrowed from the broker is:_______.
A. $109,350
B. $81,000
C. $52,500
D. $28,350
E. $22,500
Business
2 answers:
tiny-mole [99]3 years ago
8 0

Answer:

See below.

Explanation:

Amount Borrowed = Shares * Price * (1-Initial Margin)

900*90*(1-0.65) =81000*28350 = $28,350

Answer = $ 28,350 (D)

Ahat [919]3 years ago
7 0

Answer:

514444$000000

Explanation:

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