(Answered) A year ago kim altman purchased 200 shares of blk inc for

Management Studies

A year ago, Kim Altman purchased 200 shares of BLK, Inc. for $25.50 on margin. At that time the margin requirement was 40 percent. If the interest rate on borrowed funds was 9 percent and she sold the stock for $34, what is the percentage return on the funds she invested in the stock?

Mayo, Herbert B.. Basic Finance: An Introduction to Financial Institutions, Investments and Management (Page 62). Cengage Textbook. Kindle Edition.

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