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Barbara Simmons purchases 100 shares of Home Depot stock for $189.55 per share, using as little of her own money as she could. Her
Barbara Simmons purchases 100 shares of Home Depot stock for $189.55 per share, using as little of her own money as she could. Her broker has a 52% initial margin requirement and a 40% maintenance margin requirement. If the price of Home Depot stock falls to $142.33 per sharp, what does Barbara need to do to get the account back to the maintenance margin requirement? To get the account back to the maintenance margin requirement of 40%, Barbara must add $to her margin account. (Round to the nearest cent.)
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