with leverage without leverage

Initial Investment 10000 20000 20000

Amt borrowed 10000
Initial stock price 50
shares purchased 20000 400 400
ending stock price 40 16000 16000
div per share 0.6 240 240
iniitial margin 50%
Maintenance margin 30%
Holding period in mon 6
rate on margin loan 8%

return on investment -4000 -4000

capital gain 240 240
interest on margin loan
net income
initial investment
ROI