Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Last week, Matt shorted 200 shares of Pirate stock at $20 per share at an initial margin of 80 percent in his new account the

image text in transcribed

Last week, Matt shorted 200 shares of Pirate stock at $20 per share at an initial margin of 80 percent in his new account the stock has since increased and closed at $25 per share today. Assurning this is his only position, (and he's incurred no commissions, fees, etc. yet), and he only put up the required initial margin, how much cash is in Matt's account today? (OMIT any %-signs or 5-signs in your answer, ie. if you get $10.00 or 12.3%, simply enter *10.00" or "12.3" as your answer.) Next

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_2

Step: 3

blur-text-image_3

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

Liquidity Risk Management In Banks Economic And Regulatory Issues

Authors: Roberto Ruozi, Pierpaolo Ferrari

1st Edition

3642295800, 978-3642295805

More Books

Students also viewed these Finance questions

Question

Compare and contrast long-term and short-term orientation cultures

Answered: 1 week ago

Question

Discuss the research behind the notion of a pancultural self

Answered: 1 week ago