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Assume you purchased 200 shares of GE common stock on margin at $70 per share from your broker. If the initial margin is 55%, how
Assume you purchased 200 shares of GE common stock on margin at $70 per share from your broker. If the initial margin is 55%, how much did you borrow from the broker?
A) $6,000 | ||
B) $4,000 | ||
C) $7,700 | ||
D) $7,000 | ||
E) $6,300 |
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