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Paul purchases 600 share of a specific stock at $50 per share. Paul has a trading account in which he uses a 50% margin (40%

Paul purchases 600 share of a specific stock at $50 per share. Paul has a trading account in which he uses a 50% margin (40% maintenance margin).

1. What is the initial equity he will invest?

2. If the price of the stock falls to $47.50 what will be the equity in his account?

3. What is the highest stock price of which he will get a margin call?

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