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Bob Orleans invested $ 3 , 0 0 0 and borrowed $ 3 , 0 0 0 to purchase shares in Verizon Communications. At the
Bob Orleans invested $ and borrowed $ to purchase shares in Verizon Communications. At the time of his investment, Verizon was selling for $ a share.
a If Bob paid a commission of $ how many shares could he buy if he used only his own money and did not use margin? Round your answer to nearest whole number.
b If Bob paid a commission of $ how many shares could he buy if he used his $ and borrowed $ on margin to buy Verizon stock? Round your answer to nearest whole number.
c Assume Bob did use margin to buy his Verizon stock. Also, assume he paid another $ to sell his stock and sold the stock for $ a share. How much profit did he make on his Verizon stock investment? Round intermediate calculations to nearest whole number. Round your answer to nearest whole dollar.
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