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If you short $ 3 0 0 0 of stock, and your margin rate is 1 5 0 % and if you were to repurchase

If you short $

3000

of stock, and your margin rate is

1 5 0 %

and if you were to repurchase the stock after it increases by

8 % .

What is your return? The answer is supposed to be

- 16 %

but I

'

m not sure how they got to that answer.

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