What is the initial margin requirement-margin loan amount

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Reference no: EM131186382

You purchase 800 shares of 2nd Chance Co. stock on margin at a price of $37. Your broker requires you to deposit $15,000.

1. What is your margin loan amount? (Do not round intermediate calculations. Omit the "$" sign in your response.)

Margin loan $

2. What is the initial margin requirement? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Omit the "%" sign in your response.)

Margin requirement %

Reference no: EM131186382

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