Stock Purchase Price $20.00
Stock Purchase Qty 10
Total Price $200,000
With 5% Margin, i'll need to pay $10,000
1) Interest is calculated base on the total price ?
2) There is a place that i am reading mentioning that the interest is calculated base on the daily close price. Is this true ? So if the share went up to $30.00, that means interest is calculated base on $300,000 ? By using 4% interest calculated daily, that means with $200,000 i will be paying ((200,000 * 0.04)/365) $21.91 daily interest. IF the share goes up to $30.00, I will be paying $32.87 daily interest?