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Miguel Torres purchases 100 shares of Can'tWin.com for $49.77 per share, using as little of his own money as he could. His broker has a
Miguel Torres purchases 100 shares of Can'tWin.com for $49.77 per share, using as little of his own money as he could. His broker has a 60% initial margin requirement and a 26% maintenance margin requirement. The price of the stock falls to $31.88 per share.
What does Miguel need to do To get the account back to the maintenance margin requirement of 26%, Miguel must add $__. (Round to the nearest cent.)
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