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The margin requirement on a brokerage account is 40%. You purchase 1.000 shares of AAPL at $100 per share. If the price increases to $105

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The margin requirement on a brokerage account is 40%. You purchase 1.000 shares of AAPL at $100 per share. If the price increases to $105 per share, what is your percentage gain on this margin purchase? Assume no borrowing cost for simplicity. Round the nearest 0.01, in percentage terms. Hint: Use your margin formula and think about the two factors discussed in the lecture videos that affect margin profit

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