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. Suppose that you just purchased 250 shares of TTN stock for $70 per share. If the initial margin requirement is 76.50%, how much money

. Suppose that you just purchased 250 shares of TTN stock for $70 per share.

If the initial margin requirement is 76.50%, how much money must you borrow?

Hint: (1 initial margin requirement)*(# shares)*(PPS) = borrowing amount.

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