15)

You short-sell 200 shares of Rock Creek Fly Fishing Co., now selling for $30 per share. If you want to limit your loss to $2,945, you should place a stop-buy order at ___.

Multiple Choice

• $44.73

• $15.28

• $30.55

• $30.00

17.

An investor puts up $9,000 but borrows an equal amount of money from his broker to double the amount invested to $18,000. The broker charges 7% on the loan. The stock was originally purchased at $45 per share, and in 1 year the investor sells the stock for $54. The investor's rate of return was ____.

Multiple Choice

• 33.00%

• 23.50%

• 16.50%

• 13.00%