Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Intro The stock price of Tesla is $635. Your broker charges a rate of 0.8% on borrowed shares. Part 1 | Attempt 1/5 for 10

image text in transcribed

Intro The stock price of Tesla is $635. Your broker charges a rate of 0.8% on borrowed shares. Part 1 | Attempt 1/5 for 10 pts. You think the stock price will go down soon, and want to short 63 shares. If the initial margin is 50%, what is the minimum additional dollar amount that you have to deposit from your own funds to your brokerage account? 0+ decimals Submit

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

Development Finance Innovations For Sustainable Growth

Authors: Nicholas Biekpe, Danny Cassimon, Andrew William Mullineux

1st Edition

331954165X, 978-3319541655

More Books

Students also viewed these Finance questions