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Please double check your work and show all steps! Question 4 1 pts Tom purchased 577 shares of stock on margin for $25.15 a share
Please double check your work and show all steps!
Question 4 1 pts Tom purchased 577 shares of stock on margin for $25.15 a share and sold the shares 9 months later for $26.52 a share. The initial margin requirement was 56 percent and the maintenance margin was 34 percent. The interest rate on the margin loan was 9 percent. He received no dividend income. What was his holding period return (in percent)? Answer to two decimalsStep by Step Solution
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