FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

11) Joseph bought 100 shares of stock at a price of $24 a share. He used his 70% margin account to make the purchase. Joseph

image text in transcribed
image text in transcribed
11) Joseph bought 100 shares of stock at a price of $24 a share. He used his 70% margin account to make the purchase. Joseph sold his stocks after a year for $20 a share. Ignoring margin interest and trading costs, what is J oseph's return on this investment? A) -17% B) -24% C) 24% D) -56%

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management Accounting

Management Accounting

Authors: Late RC Sekhar, AV Rajagopalan

1st Edition

195683609, 978-0195683608

More Books

Students also viewed these Accounting questions

Question

★★★★★
A researcher has recruited 20 volunteers to participate in a study. The researcher wishes to measure the effect of alcohol on an individuals reaction time. The 20 volunteers are randomly divided into...

Answered: 1 week ago

Question

★★★★★
What happens to food while it is in the stomach?

Answered: 1 week ago

Question

★★★★★
b. Who is the program director?

Answered: 1 week ago

Question

★★★★★
Bavarian Chocolate Company produces chocolate bars. The primary materials used in producing chocolate bars are cocoa, sugar, and milk. The standard costs for a batch of chocolate (5,000 bars) are as...

Answered: 1 week ago

Question

★★★★★
On December 1, Shamrock, Electronics has three DVD players left in stock. All are identical, all are priced to sell at $78. One of the three DVD players left in stock, with serial #1012, was...

Answered: 1 week ago

Question

★★★★★
Valuation of a declining growth stock Maxwell Mining Company's one reserves are being depleted, so its sales are falling. Also, because its pit is getting deeper each year, its costs are rising. As a...

Answered: 1 week ago

Question

★★★★★
Carol is the purchasing manager for J'Divine, a popular wedding photography business. She is responsible for assessing the purchasing and supply activities performed by J'Divine's purchasing and...

Answered: 1 week ago

Question

★★★★★
How might a neuroscientist use children's interest in video games to design an experimental or longitudinal study determining whether intense amounts of practice in a particular skill causes...

Answered: 1 week ago

Question

★★★★★
ABA Procedure In this section, name the ABA Procedure being considered. For example, "Differential Reinforcement of Other Behavior (DRO)." Special Methods In this section, discuss the implementation...

Answered: 1 week ago

Question

★★★★★
Humans, especially children, have an amazing capability to learn language. Within the first year of life, children will have learned many of the necessary concepts to have functional language,...

Answered: 1 week ago

Question

★★★★★
Martina was geared up for a long day on the bike trail and began her day with a balanced breakfast. Although she brought plenty of water with her, she was also able to stay hydrated because her...

Answered: 1 week ago

Question

★★★★★
1. Discuss the following statements: a) The smaller the unit of measurement used to measure a coastline, the longer the coastline becomes. b) The interpretation is different from what is interpreted....

Answered: 1 week ago

Question

★★★★★
1. What information of vital importance is not expressed in the message? The answer to the question tells us a little about the code used between the parties.

Answered: 1 week ago

Question

★★★★★
2. Find five metaphors for communication.

Answered: 1 week ago

Previous Question Next Question