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You open a brokerage account and purchase 500 shares of Gold Inc at $15 per share. You borrow $2,500 from your broker to help pay

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You open a brokerage account and purchase 500 shares of Gold Inc at $15 per share. You borrow $2,500 from your broker to help pay for the purchase. The interest rate on borrowed funds is 7%. What is the margin in your account when you first purchase the stock? $4,500.00 $5,000.00 $3,500.00 $2,750.00

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