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Suppose you purchase 6 0 0 shares of stock at $ 3 3 per share with an initial cash investment of $ 9 , 9

Suppose you purchase 600 shares of stock at $33 per share with an initial cash investment of $9,900. 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 $41. Suppose instead you had purchased $9,900 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[[69,Rate of Return],[With margin,%
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