Question
A year ago, Kim Altman purchased 170 shares of BLK, Inc. for $28.00 on margin. At that time the margin requirement was 60 percent. If
A year ago, Kim Altman purchased 170 shares of BLK, Inc. for $28.00 on margin. At that time the margin requirement was 60 percent. If the interest rate on borrowed funds was 5 percent and she sold the stock for $43.00, what is the percentage return on the funds she invested in the stock? Round your answer to two decimal places.
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Fundamentals of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
10th edition
978-1337902571, 1337902578, 978-1337911054, 1337911054, 978-0324272055
