Neshoba Industries Stock Is Selling for $33 a Share

question 68

Multiple Choice

Neshoba Industries stock is selling for $33 a share.You would like to purchase as many shares of this stock as you can.Your margin account currently has available cash of $7,000 and the initial margin requirement is 65 percent.What is the maximum number of shares you can buy?

• A) 193 shares
• B) 287 shares
• C) 300 shares
• D) 326 shares
• E) 408 shares

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Definitions:

Ratio

A quantitative relationship between two numbers showing the number of times one value contains or is contained within the other.

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Individuals who lack stable and permanent housing, often living in shelters, on the streets, or in other temporary accommodations.

Graduates

Individuals who have successfully completed a course of study at a college, university, or other educational institution.

Rocks

Rocks refer to solid mineral material forming part of the surface of the earth and other similar planets, exposed on the surface or underlying the soil or oceans.