Mike Bought 200 Shares of PDQ Stock on Margin at $15/share

question 89

Multiple Choice

Mike bought 200 shares of PDQ stock on margin at $15/share. The stock increased to $21/share. What was Mike's profit?

• A) $600
• B) $1,200
• C) $3,000
• D) $4,200
• E) $5,200

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Definitions:

Activities of Daily Living

Routine tasks that individuals do every day without needing assistance, such as eating, bathing, dressing, and mobility.

Independent

Free from outside control; not depending on another's authority or on specific factors.

Maslow's Hierarchy

A theory in psychology that categorizes human needs into a five-tier model, from basic (such as food and shelter) to complex (such as self-fulfillment).

Mental Illness

Refers to a wide range of mental health conditions that affect mood, thinking, and behavior.