6. Mikes brokerage account is highly correlated to the market. In fact the account has a correlation with the market of about 99 percent. However, because Mike has some leveraged mutual funds in the account, the beta of the portfolio is approximately 20 percent greater than the market. Mikes brokerage account is a margin account, which has an initial margin of 50 percent and a maintenance margin of 35 percent.

How much does this account yield yearly if the amount invested is $70,000