6. Buck Ewing opened a margin account at a local brokerage firm . Buck's initial investment was...

Question:

6. Buck Ewing opened a margin account at a local brokerage firm . Buck's initial investment was to purchase 200 shares of Woodbury Corporation on margin at

$40 per share. Buck borrowed $3,000 from a broker to complete the purchase.

a. At the time of the purchase, what was the actual margin in Buck's account?

b. IfWoodbury stock subsequently rises in price to $60 per share, what is the actual margin in Buck's account?

c. If Woodbury stock subsequently falls in price to $35 per share, what is the actual margin in Buck's account?

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Manu Singh

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