BROKERS STOCK
BROKERS STOCK
An example of a math problem that STOCK BROKERS need to do?
i need to do a project for my math class about what kind of math problems stock brokers do. I really really need an example because i have no idea what they do
HELP!
Account value: $10,000
Margin Interest rate: 7.95% APR
Transaction: $20,000 of XYZ purchased on 1/01 and sold on 1/15
1. Take the amount of money borrowed and multiply it by the interest rate:
10,000 * .0795 = 795
2. Take the product and divide it by the number of days in the year:
795 / 360 = 2.21
3. Multiply this result by the number of days XYZ was held on margin:
2.21 * 15 = 33.15
It would cost $33.15 to borrow $10,000 for 15 days.
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