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show steps carry decimals to 4 places Allan purchased 578 shares of stock on margin for $26.00 a share and sold the shares 4 months
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Allan purchased 578 shares of stock on margin for $26.00 a share and sold the shares 4 months later for $31.37 a share. The initial margin requirement was 0.6 percent and the maintenance margin was 0.5 percent. The annual interest rate on the margin loan was 8 percent. He received no dividend income. What was his holding period return (in percent)? Answer to two decimals carry decimals to 4 places
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