Question
Several weeks ago, Suzy bought 100 shares of stock at $30 per share on margin.Her broker had an initial margin requirement of 65% and Suzy
Several weeks ago, Suzy bought 100 shares of stock at $30 per share on margin.Her broker had an initial margin requirement of 65% and Suzy financed the balance.The price of Suzy's stock has since fallen to $14 per share.Given the $14 price per share, determine Suzy's new margin position.
a) 38%
b) 25%
c) 53%
d) 46%
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Contemporary Business Mathematics with Canadian Applications
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
10th edition
133052311, 978-0133052312
