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Jennifer has a margin account. She logged into her online account and her margin account (REAL TIME) on July 2, 2020 showed a credit balance
Jennifer has a margin account. She logged into her online account and her margin account (REAL TIME) on July 2, 2020 showed a credit balance of $1,500. She decided to purchase 100 shares @ $30.40 of TD Bank (TSX:TD) a blue chip company that offers 70% loan value. The total cost of the shares is $3,040 (ignore commissions). What would show on her margin statement after the transaction? (assuming no new trades and no interest has been paid or charged)? A. Excess margin $1540 B. Excess margin $588 C. Under margin $588 D. Under margin $1540
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