Based on the information given, compute the rates of return for the following margin transactions. Use Figure 17. 2 in your textbook as your model. (Round answer to the nearest tenth of a percent. )
Rick Mendez bought stock for $5,000, using $2,500 of his own money and $2,500 borrowed from the broker. One month later, the stock is sold for $5,650. Interest owed to the broker is $30; brokerage commissions to buy and sell the stock totaled $300.
Rates of return: %
