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  3. abc purchases 124 shares of xyz company at $31 per

ABC purchases 124 shares of XYZ company at $31 per share in its margin account....

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Finance

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ABC purchases 124 shares of XYZ company at $31 per share in its margin account. ABC finances part of the purchase by borrowing $1674 at a rate of 11% per year. One year later the price of XYZ shares has changed by 38%. Therefore the return earned by ABC in its marging account is (Negative amounts should be indicated by a minus sign. Round your answer to 2 decimal places, e.g. 110.10) Selected Answer: x24.06 Correct Answer: 58.831%

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