3. Some checking accounts pay a higher rate of interest than some savings accounts. True/False

10. You purchased 500 shares of a non-dividend paying stock at $50.00 per share using 50% margin at a 10% annual interest rate. A year later you sold the stock for $42.05 and paid your annual interest on the margin loan. You paid $30 in commission in total. What was your total loss on this investment?