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Question
Rosita purchased 300 shares of a stock for $37 a share. Today, the stock is selling for $41 a share.The initial margin requirement is 70 percent and the maintenance margin is 30 percent. Rosita had to pay _____ in cash to purchase the stock and must have at least _____ in equity today.
A. $3,690; $3,330
B. $3,690; $3,690
C. $7,770; $3,330
D. $7,770; $3,690
E. $8,610; $3,690
Answer
This answer is hidden. It contains 82 characters.
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