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Suppose you purchase 1 , 0 5 0 shares of stock at $ 7 6 per share with an initial cash investment of $ 3

Suppose you purchase 1,050 shares of stock at $76 per share with an initial cash investment of $39,900. The call money rate is 5 percent and you are charged a 1.5 percent premium over this rate. Ignore dividends.
a. Calculate your return on investment one year later if the share price is $84. Suppose instead you had purchased $39,900 of stock with no margin. What would your rate of return have been now?
Note: Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.
\table[[,Rate of Return],[With margin,%,],[Without margin,10.52,%
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