Today, you purchase 2,651 shares of stock X at $24 per share and simultaneously sell SHORT 1,893 shares of stock Y at $32 per share. There are no trading commissions. Broker charges a 4.30% interest on loan balances and credits a 2.30% interest on any cash balance. Stock borrow fees are 1%. All rates are effective annual rates, and there are no dividends. The margin requirements are 50% on both sides. Assume that the next trading date is three months from today, and there is no margin recalculation before the end of these three months. Now, assume that you have maximized your buying and selling power today (which is what you can buy or sell on margin). That is, there is no excess cash available in the account today. How much cash interest will be receivable in three months from today?

Question 16 options:

	$505
	$518
	$531
	$544
	$557