What was initial margin requirement

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Reference no: EM131850408

Suzette recently purchased 300 shares of Nu Electronics stock in her margin account for $6.29 a share. Her broker required a cash payment of $1,321, plus trading costs, for the purchase. The maintenance margin for her account is 40%. The next day the stock price suddenly dropped to $4 a share. What was Suzettes initial margin requirement? Will she receive a margin call after the price drop?

Reference no: EM131850408

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