You purchase 500 shares of 2nd Chance Co stock on margin at a price of $53 Your broker requires you to deposit $11,000 What is your margin loan amount What is the initial margin requirement ...

You purchase 500 shares of 2nd Chance Co. stock on margin at a price of $53. Your

Question:

You purchase 500 shares of 2nd Chance Co. stock on margin at a price of $53. Your requires you to deposit $11,000. What is your margin loan amount? What is the initial margin requirement?

Broker
A broker is someone or something that acts as an intermediary third party, managing transactions between two other entities. A broker is a person or company authorized to buy and sell stocks or other investments. They are the ones responsible for...