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You purchase 700 shares of 2nd Chance Co. stock on margin at a price of $46. Your broker requires you to deposit $16,500. 1. What
| You purchase 700 shares of 2nd Chance Co. stock on margin at a price of $46. Your broker requires you to deposit $16,500. |
| 1. | What is your margin loan amount? (Do not round intermediate calculations. Omit the "$" sign in your response.) |
| Margin loan | $ |
| 2. | What is the initial margin requirement? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Omit the "%" sign in your response.) |
| Margin requirement | % |
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