You purchase 800 shares of 2nd Chance Co. stock on margin at a price of $42. You

Question

You purchase 800 shares of 2nd Chance Co. stock on margin at a price of $42. Your broker requires you to deposit $17,000.

Suppose you sell the stock at a price of $51. What is your return? What would your return have been had you purchased the stock without margin? (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places. Omit the "%" sign in your response.)

What is your return if the stock price is $40 when you sell the stock? (Negative values should be indicated by a minus sign. Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places. Omit the "%" sign in your response.)

You purchase 800 shares of 2nd Chance Co. stock on margin at a price of $42. Your broker requires you to deposit $17,000.

Explanation / Answer

You purchase 800 shares of 2nd Chance Co. stock on margin at a price of $42. You

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