13) Marcia purchased 100 shares of Hyde Foods stock on margin at a price of $35 a share. The initial margin requirement is 65 percent and the maintenance margin are 35 percent. What is the lowest the stock price can go before Marcia receives a margin call?

A) $18.85

B) $24.50

C) $28.00

D) $30.00

E) $33.00

14) Sarah purchased 700 shares of Detroit Motors stock at a price of $45 a share. The initial margin requirement is 70 percent and the maintenance margin are 30 percent. The effective interest rate on the margin loan is 6.5 percent. How much margin interest will she pay if she repays the loan in five months?

A) $187.29

B) $204.12

C) $217.29

D) $230.42

E) $251.25

15) Rylee short sold 600 shares of stock at $16.25 a share. The initial margin is 75 percent and the maintenance margin are 50 percent. The stock is currently selling for $19.50 a share. What is Rylee's account equity currently? Ignore margin interest.

A) $1,070.75

B) $3,590.25

C) $5,362.50

D) $8,950.00

E) $10,510.35

16) A financial asset that represents a claim on another financial asset is classified as an ________ asset.

A) secondary

B) optioned

C) contracted

D) derivative

E) primary