A year ago, Kim Altman purchased 220 shares of BLK, Inc. for $39.00 on margin. At that time the margin requirement was 30 percent. If the interest rate on borrowed funds was 7 percent and she sold the stock for $ 47.00, what is the percentage return on the funds she invested in the stock? Round your answer to two decimal places. %
A year ago, Kim Altman purchased 220 shares of BLK, Inc. for $39.00 on margin. At that time the margin requirement was 30 percent. If the interest rate on borrowed funds was 7 percent and she sold the stock for $ 47.00, what is the percentage return on the funds she invested in the stock? Round your answer to two decimal places. %
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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![A year ago, Kim Altman purchased
220 shares of BLK, Inc. for $39.00 on
margin. At that time the margin
requirement was 30 percent. If the
interest rate on borrowed funds was
7 percent and she sold the stock for $
47.00, what is the percentage return
on the funds she invested in the
stock? Round your answer to two
decimal places. %](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff4a480ad-0cbe-4dcc-b634-6929c330bf87%2F4ea4229b-5b71-47f6-b8b2-38f5b70febe8%2Fm4tjx84_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A year ago, Kim Altman purchased
220 shares of BLK, Inc. for $39.00 on
margin. At that time the margin
requirement was 30 percent. If the
interest rate on borrowed funds was
7 percent and she sold the stock for $
47.00, what is the percentage return
on the funds she invested in the
stock? Round your answer to two
decimal places. %
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