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need part a opened a margin account with $18,000 at your local brokerage firm. You instruct your broker to purchase 650 shares of Landon Golf
need part a
opened a margin account with $18,000 at your local brokerage firm. You instruct your broker to purchase 650 shares of Landon Golf stock, which currently sells for $41 per share. a. What is your initial margin? (Enter your answer as a percent rounded to 2 decimal places.) Initial margin % b. Construct the equity account balance sheet for this position. Assets Liabilities and account equity 26,650 Margin loan Account equity 650 shares 8,650 18,000 Total 26,650 Total 26,650 Step by Step Solution
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