NEED HELP FOR PART 3, PLEASE ENSURE THE ACCURACY AND CORRECTNESS! THANKS A LOT!

Intro

The stock price of Apple is $110. You have $10,000 to invest. The monthly interest rate charged by your broker is 0.6%, and interest expense is deducted from your account at the end of each month.

Part 1 - Attempt 1/5 for 10 pts. You think the stock price will go up soon, and want to trade 118 shares. What should you do? Enter 118 for buying 118 shares (on margin if necessary), or -118 for selling or short-selling 118 shares. 118 Correct You should buy 118 shares to benefit from an increase in the stock price. Part 2 Attempt 1/5 for 10 pts. If you buy 118 shares using your $10,000 and then borrow the rest of the required funds from your broker, what is your initial margin ratio (entered as a decimal number)? 0.770416 Correct The dollar margin equals the equity in the account: Assets = Number of shares * Stock price A = 118 * 110 = 12,980 Liabilities = Loan = Cost of shares - Own funds L = 12,980 - 10,000 = 2,980 Equity A - L Percentage margin Value of shares N.P 12,980 2,980 118 110 A - = 0.77 Part 3 Attempt 4/5 for 7 pts. Two months later, the stock price is $130. What is your percentage margin (entered as a decimal number)? 2+ decimals Previous answers: 0.49; 0.684; 0.233616 Submit