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An investor is bullish in XYZ stock. He decides to buy on margin 1 , 0 0 0 shares at market price of $ 5

An investor is bullish in XYZ stock. He decides to buy on margin 1,000 shares at market price of $50.00. The initial margin is 60%, and the maintenance margin is 30%. Margin loan has 5% interest rate per year. How much loan does the investor have to take initially for this transaction? Ans.: $_______.
A) $20,000
B) $24,000
C) $30,000
D) $25,000

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