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如此_AnnieCcc · 2020年04月15日

问一道题:NO.PZ2015122801000004

问题如下:

Daisy shorts 1800 shares of KIY company's stock on a 30% initial margin and the broker's lending rate is 2.5%. The current price is $65 per share. The broker charges a commission of $0.02 per share on sales but purchases for free. KIY stock pays an annual dividend of $1 per share. One year later, Daisy buys the 1800 shares at a price of $58 per share and close the position.Which of the following is closest to Daisy's rate of return?

选项:

A.

24.98%.

B.

24.81%

C.

32.55%.

解释:

B is correct.

Initial principal = 1800*65*0.3= 35100. The commission on sale( calculating as a part of initial cost)=1800*0.02=36

Remaining principal=1800*65*0.7=81900 ,so the first expense---lending interest=81900*2.5%=2047.5

The second expense---dividend payment=1*1800=1800, and there is no purchase commission.

The return on this investment=1800*65-1800*58-36-2047.5-1800=8716.5

Yield=8716.5/(35100+36)=24.81%

he return on this investment=1800*65-1800*58-36-2047.5-1800=8716.5

怎么理解用1800乘以65去减

1 个答案

Debrah_品职答疑助手 · 2020年04月16日

同学你好,1800*(65-58)的部分指的就是借股票投资的收益部分。虽然自己只出了30%的钱,但是借到了100%的1800股股票,期间股价波动带来的收益就是7元/股,股价波动带来的收益合计7*1800=12,600元。后面减掉的有36块钱的手续费,以及借股利息2047.5,还需要减掉期间的股息1800。