Rosita purchased 300 shares of a stock for $37 a share.Today,the stock is selling for $41 a share.The initial margin requirement is 70 percent and the maintenance margin is 30 percent.Rosita had to pay ________ in cash to purchase the stock and must have at least ________ in equity today.
A) $3,690; $3,330
B) $3,690; $3,690
C) $7,770; $3,330
D) $7,770; $3,690
E) $8,610; $3,690
Correct Answer:
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