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Barbara Simmons purchases 100 shares of Home Depot stock for $189.26 per share, using as little of her own money as she could. Her broker
Barbara Simmons purchases 100 shares of Home Depot stock for $189.26 per share, using as little of her own money as she could. Her broker has a 53% initial margin requirement and a 39% maintenance margin requirement. If the price of Home Depot stock falls to $136.32 per share, what does Barbara need to do?
To get the account back to the maintenance margin requirement of 39%, Barbara must add $( ). (Round to the nearest cent.)
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