34. Joe Banks purchased 300 shares of a $42 stock in his margin account. His broker charges $6.00 in commission for an unlimited amount of shares, and has a policy of 50% initial margin and 35% maintenance margin. Three days later on settlement day, Joe delivered a check to the broker in the amount of $6.303. One week went by and the stock suddenly fell to $26.00. How much will Joe have to pay in a margin call? A. B. C. c D. E. Make your selection: $ $ $ $ $ 953 983 1,023 1,233 1,523

Suppose Tyler initially pays $76,000 toward the purchase of $108,000 worth of stock, borrowing the remaining balance from one of notorious brokers, Diego. In this case, Tyler’s initial percentage margin is closest to   A. 70.37%. B. 60.50%. C. 39.50%. D. 29.63%. Clear my choice

You are very optimistic about the personal computer industry, so you buy 200 shares of Microtech Inc. at $45 per share. You are very pessimistic about the machine tool industry, so you sell short 300 shares of King Tools Corporation at $55. Each transaction requires a 40 percent margin balance.   a. What is the initial equity in your account? b. Assume the price of each stock is as follows for the next three months (month-end). Compute the equity balance in your account for each month:   Month Microtech Inc. King Tools Corp. October $51 $48 November 39 62 December 37 40

Seven months ago, you purchased 400 shares of stock on margin. The initial margin requirement on your account is 70 percent and the maintenance margin is 30 percent. The call money rate on the margin loan is 6.65 percent. The purchase price was $16 a share. Today, you sold these shares for $18.00 each. What is your annualized rate of return? O 64.64 percent O 56.87 percent O 33.35 percent O 42.77 percent O 29.39 percent O O

Finance You short sold 700 shares of a stock at $25 a share. The initial margin requirement is 75 percent and the maintenance margin is 35 percent. The price of the stock has changed to $30 a share today. How much money do you owe your broker today? Provide the answer in dollars, accurate to two decimal places.