Assume you purchased 500 shares of XYZ common stock on margin at $40 per share...
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Accounting
Assume you purchased 500 shares of XYZ common stock on margin at $40 per share from your broker. If the initial margin is 50%, the amount you borrowed from the broker is _________.
Group of answer choices
$10,000
$20,000
$8,000
$12,000
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