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You purchased 400 shares of common stock on margin at $45 per share and sold them 9 months later at $65. Assume the margin requirement
You purchased 400 shares of common stock on margin at $45 per share and sold them 9 months later at $65. Assume the margin requirement is 80%, interest on margin used is 3%, and commission paid on each transaction is2%. What is your yield on thisinvestment?
Question: The yield on the investment is ____
(Round to two decimal places asneeded.)
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