Ina Purchased 600 Shares of Detroit Motors Stock at a Price

question 100

Multiple Choice

Ina purchased 600 shares of Detroit Motors stock at a price of $65 a share. The initial margin requirement is 65 percent and the maintenance margin is 30 percent. The effective interest rate on the margin loan is 5.85 percent. How much margin interest will she pay if she repays the loan in seven months?

• A) $387.29
• B) $401.32
• C) $460.28
• D) $580.42
• E) $687.96

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Definitions:

Atrophy

The wasting away or decrease in size of an organ or tissue in the body due to disease, injury, or lack of use.

Brain Development

The process of growth and change in the brain's structure, function, and capacity throughout the lifespan.

Growth Expressed

The demonstration or manifestation of personal or developmental advancement, often visible through changes in behavior, abilities, or understanding.

Electrochemical Impulses

Electrical and chemical signals transmitted through neurons for communication within the brain and nervous system.