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Barbara buys 60 shares of DEM at $34.00 a share and 230 shares of GOP at $42.00 a share. She buys on margin and the

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Barbara buys 60 shares of DEM at $34.00 a share and 230 shares of GOP at $42.00 a share. She buys on margin and the broker charges interest of 7 percent on the loan. a. If the margin requirement is 44 percent, what is the maximum amount she can borrow? Round your answer to the nearest cent. b. If she buys the stocks using the borrowed money and holds the securities for a year, how much interest must she pay? Round your answer to the nearest cent. %

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