How much must the stock rise to realize

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Problem 1: Lisa Lasher buys 400 shares of stock on margin at $29 per share. If the margin requirement is 60 percent, how much must the stock rise for her to realize a 30-percent return on her invested funds? (Ignore dividends, commissions, and interest on borrowed funds.) Round your answer to the nearest cent.

Reference no: EM132964224

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