How many shares of turtle can jackie purchase

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Reference no: EM131825680

Jackie has a margin account with a balance of $66,000. If initial margin requirements are 60 percent and Turtle Industries is currently selling at $10 per share:

a. How many shares of Turtle can Jackie purchase?

b. What is Jackie's profit if Turtle’s price rises to $13?

c. If the maintenance margin is 30%, to what price can Turtle Industries fall before Jackie receives a margin call?

Reference no: EM131825680

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