Sergio bought 250 shares of Silicon Acme @ 20 through his margin account. Then the stock plummets to $7.50 a share. Calculate the market value, debit balance, and customer equity if his brokerage firm's margin rate is set 60%.
I got...
market value = $1875
debit balance = $750
customer equity = $1125
Is that correct? Please check!
Thanks a lot!
0 answers