You've borrowed $24,000 on margin to buy shares in Ixnay, which is now selling at...
80.2K
Verified Solution
Link Copied!
Question
Finance
You've borrowed $24,000 on margin to buy shares in Ixnay, which is now selling at $32 per share. Your account starts at the initial margin requirement of 50%. The maintenance margin is 35%. Two days later, the stock price falls to $29 per share. o. Will you recelve a margin call? Yes No b. How low can the price of Ixnay shares fall before you recelve a margin call? (Round your answer to 2 decimol places.)
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
