You've just opened a margin account with $15,000 at your local brokerage firm. You instruct...
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You've just opened a margin account with $15,000 at your local brokerage firm. You instruct your broker to purchase 700 shares of Landon Golf stock, which currently sells for $32 per share. a. What is your initial margin? (Enter your answer as a percent rounded to 2 decimal places.) Initial margin % b. Construct the equity account balance sheet for this position. Assets 700 shares Liabilities and account equity Margin loan Account equity Total $ Total
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