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22. An investor buys 400 shares of IBM stock at a price of $160.25 per share, using a margin account. The initial margin requirement is

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22. An investor buys 400 shares of IBM stock at a price of $160.25 per share, using a margin account. The initial margin requirement is 40%. The rate on the margin loan is 8.0%. One year later, how much does the investor owe for interest on the margin loan? a. $3,077 b. $4,944 c. $5,128 d. $2,051 7

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