Last week,you sold 800 shares of Ace stock for $24,000.The sale was a short sale with an initial margin requirement of 70 percent.The maintenance margin is 40 percent.Some positive news concerning the company was released last night and the stock price jumped this morning to $35 a share.What is your current margin position in this stock?
A) 61.33 percent
B) 56.67 percent
C) 45.71 percent
D) 38.68 percent
E) 27.50 percent
Correct Answer:
Verified
Q81: Sarah purchased 700 shares of Detroit Motors
Q82: Marcia purchased 100 shares of Hyde Foods
Q83: Mike short sold 400 shares of DeSoto
Q84: Sam is purchasing 800 shares of RPT,Inc.,stock
Q85: Recently,you sold 500 shares of stock for
Q87: Rylee short sold 600 shares of stock
Q88: You just sold 1,200 shares of stock
Q89: You recently purchased 200 shares of stock
Q90: Neshoba Industries stock is selling for $33
Q91: You short sold 700 shares of a
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents