You currently purchased 800 shares of stock on margin at a price of $6.80 per share. Your broker required a cash payment of $5,440 plus trading costs. What was the initial margin requirement on this particular stock?
A) 70%
B) 75%
C) 80%
D) 90%
E) 100%

Question

Quizplus · Accepted Answer

The Answer of You currently purchased 800 shares of stock on margin at a price of $6.80 per share. Your broker required a cash payment of $5,440 plus trading costs. What was the initial margin requirement on this particular stock?
A) 70%
B) 75%
C) 80%
D) 90%
E) 100%

You Currently Purchased 800 Shares of Stock on Margin at a Price