You purchase 600 shares of Jenkins Corporation at $30 per share using an initial 70%. The stock is now selling for $41 per share and you want to use the excess e your account to pyramid. You want to purchase 400 shares of Watson Corporatio per share. If the minimum initial margin is 60%, what is the minimum amount of you will have to put up in this transaction?
You purchase 600 shares of Jenkins Corporation at $30 per share using an initial 70%. The stock is now selling for $41 per share and you want to use the excess e your account to pyramid. You want to purchase 400 shares of Watson Corporatio per share. If the minimum initial margin is 60%, what is the minimum amount of you will have to put up in this transaction?
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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