Eight hundred shares of stock were purchased at a price of $82 per share and an initial margin of 60 percent. If the stock was sold when the price was $89, what was the investment return for the period you own the stocks? Ignore transaction costs and margin interest.
A) 9.78%
B) 14.23%
C) 8.54%
D) 16.21%
E) 12.87%

Question

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The Answer of Eight hundred shares of stock were purchased at a price of $82 per share and an initial margin of 60 percent. If the stock was sold when the price was $89, what was the investment return for the period you own the stocks? Ignore transaction costs and margin interest.
A) 9.78%
B) 14.23%
C) 8.54%
D) 16.21%
E) 12.87%

Eight Hundred Shares of Stock Were Purchased at a Price