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An investor buys $16 thousand dollars of stock at $20 per share, using 57% initial margin. The broker charges 7% APR compounded daily on the

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An investor buys $16 thousand dollars of stock at $20 per share, using 57% initial margin. The broker charges 7% APR compounded daily on the loan, and requires a 35% maintenance margin The stock pays $0.64 per share dividend each year. If the stock is sold at the end of the year at $22 per share, what is the investor's rate of return? Enter answer in percents, accurate to 2 decimal places

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