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10. Assume you purchased 2000 shares of XYZ common stock on margin at $30 per share from your broker. If the initial margin is 70%,

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10. Assume you purchased 2000 shares of XYZ common stock on margin at $30 per share from your broker. If the initial margin is 70%, what is the interest payment on the amount you borrowed from the broker if interest rate is 9%? (2 points) $18000 $1620 $42000 53780

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