Multiple Choice
Joseph bought 100 shares of stock at a price of $24 a share.He used his 70% margin account to make the purchase.Joseph sold his stock after a year for $20 a share.Ignoring margin interest and trading costs, what is Joseph's return on investor's equity for this investment?
A) -17%
B) -24%
C) 24%
D) -56%
Correct Answer:
Verified
Correct Answer:
Verified
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