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Assume you purchased 500 shares of XYZ common stock on margin at $30 per share from your broker. If the initial margin is 55%, the

Assume you purchased 500 shares of XYZ common stock on margin at $30 per share from your broker. If the initial margin is 55%, the amount you borrowed from the broker is _________. Multiple Choice $8,250 $21,750 $15,000 $6,750

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