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1. An investor has E50,000 (Egyptian pound). He deposits E37,000 into a brokerage account. He buys 1,000 shares of the Commercial International Bank (CIB) for
1. An investor has E50,000 (Egyptian pound). He deposits E37,000 into a brokerage account. He buys 1,000 shares of the Commercial International Bank (CIB) for E35 per share. One week later, the investor sells the CIB stock for E37. When he receives his brokerage account statement, he sees that there is a missing item: What belongs in item 4 on this statement?
Price per Share (E Total Number of Shares Account Transaction (E5) Balance (E) Item 1. Deposit 2. CIB purchase 3. CIB sale 4. 5. Balance 35 37 37000 35,000 37,000 37,000 37,000 39,000 1,000 1,000 38,000Step by Step Solution
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