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Posted on Jul 24, 2024

Suppose you take out a margin loan for $ 7 6 , 0 0 0 . You pay an effective rate of 6 . 9

Suppose you take out a margin loan for $

76, 000 .

You pay an effective rate of

6.9

percent. If you repay the loan in

60

days, how much interest will you pay?

Note: Do not round intermediate calculations. Round your answer to

2

decimal places.

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