Chapter $4$ EOC Problems

ent: Assignment $3$: Chapter $4$ EOC Problems

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Problem $4-05$

A year ago, Kim Altman purchased $260$ shares of BLK$,$ Inc. for $$36\mathrm{.}00$ on margin. At that time the margin requirement was $40$ percent. If the interest rate on borrowed funds was $10$ percent and she sold the stock for $$50\mathrm{.}50,$ what is the percentage return on the funds she invested in the stock? Round your answer to two decimal places.

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