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What is the initial margin requirement

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Reference no: EM133001935

You purchase 650 shares of 2nd Chance Co. stock on margin at a price of $45. Your broker requires you to deposit $17,500.

Problem 1: what is your margin loan amount?

Problem 2: what is the initial margin requirement? Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

Reference no: EM133001935

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