Answered step by step
Verified Expert Solution
Question
1 Approved Answer
You have $29292 equity in a $100000 investment where the maintenance margin is 30%. You get a margin call and decide to meet it by
You have $29292 equity in a $100000 investment where the maintenance margin is 30%. You get a margin call and decide to meet it by purchasing more shares using only your own money - no more borrowing. What is the minimum amount of money that you have to spend on new shares for your account to become legal again? Round to the nearest dollar.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started