FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Initial margin is 50% and the maintenance margin is 25%. A customer is long 100 shares of a stock that is currently worth $41. A

Initial margin is 50% and the maintenance margin is 25%. A customer is long 100 shares of a stock that is currently worth $41. A customer's margin loan is $6,000. How much additional cash the customer has to post to satisfy maintenance margin requirement?

Round your answer to the nearest dollar. Assume that additional cash immediately credited towards customer's margin debt.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Ebay Easy Made How To Quickly And Easily Make Thousands Of Dollars Selling Everyday Items Online

Ebay Easy Made How To Quickly And Easily Make Thousands Of Dollars Selling Everyday Items Online

Authors: Jay Johns

1st Edition

1544010729, 978-1544010724

More Books

Students also viewed these Finance questions

Question

★★★★★
Suppose that the utility function for two goods X and Y is given by U = x2y. (a) Write the equation of the indifference curve for a consumer who purchases 6 units of X and 15 units of Y. (b) If the...

Answered: 1 week ago

Question

★★★★★
=+e) We are 95% confident that between 40.9% and 55.1% of the samples will have a proportion near 48%.

Answered: 1 week ago

Question

★★★★★
1.15. For Crandall, cheese cubes and crackers are perfect complements: he wants to consume exactly 1 cheese cube with each cracker. He has $2.40 to spend on cheese and crackers. One cheese cube costs...

Answered: 1 week ago

Question

★★★★★
BatCo makes metal baseball bats. Each bat requires 1 kg. of aluminum at $ 18 per kg. and 0.25 direct labor hours at $ 20 per hour. Overhead is assigned at the rate of $ 40 per labor hour. What...

Answered: 1 week ago

Question

★★★★★
Initial margin is 50% and the maintenance margin is 25%. A customer is long 100 shares of a stock that is currently worth $41. A customer's margin loan is $6,000. How much additional cash the...

Answered: 1 week ago

Question

★★★★★
statistics QUESTION ONE (30 MARKS) 2.1 1.1. A manufacturer of computer chips claims that less than 10% of his products are defective. When 1,000 chips were drawn from a large production, 7.5% were...

Answered: 1 week ago

Question

★★★★★
ABC Manufacturers have decided to manufacture special work benches for office use. The work benches are designed to take into consideration the ergonomics in an office environment. The height and...

Answered: 1 week ago

Question

★★★★★
The Mercy Sales Co. employs the perpetual inventory basis in its accounting for new cars. On August 15, 2021 a new car was sold to Rose Castro with a list price of P220,000 costing P165,000. It...

Answered: 1 week ago

Question

★★★★★
in 2002 the Maryland General Assembly voted to purchase undeveloped land on the Chesapeake ay before a construction company could purchase it. The state plans to use the land as a park er...

Answered: 1 week ago

Question

★★★★★
American Airline monitors the luggage weights every day at LAX. Two controlled samples are taken from yesterday, and the weight (in pounds) of each luggage is recorded in the following table. (L1...

Answered: 1 week ago

Question

★★★★★
Post the transaction from General Journal in Tab 1 in the ledger accounts below. Go to tab 3 and see if Col b and C balance. If they do, you have posted everything correctly If they do not balance,...

Answered: 1 week ago

Previous Question Next Question