Question
Lisa Lasher buys 450 shares of stock on margin at $28 per share. If the margin requirement is 30 percent, how much must the stock
Lisa Lasher buys 450 shares of stock on margin at $28 per share. If the margin requirement is 30 percent, how much must the stock rise for her to realize a 30-percent return on her invested funds? (Ignore dividends, commissions, and interest on borrowed funds.) Round your answer to the nearest cent.
$
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Financial Management For Public, Health, And Not-for-Profit Organizations
Authors: Steven A. Finkler, Daniel L. Smith, Thad D. Calabrese, Robert M. Purtell
6th Edition
150639681X, 978-1506396811
