Question: Jane Doe put up $15,000 to take a long position in XYZ stock with a price of $25. a) If the initial margin rate on

Jane Doe put up $15,000 to take a long position in XYZ stock with a price of $25.
a) If the initial margin rate on the position is 60%, how many shares can you purchase?
b) What dollar amount are you borrowing from the brokerage firm? Calculate using a financial calculator.(FV,PMT,PV,I/Y,N) Post what input is for each.

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