Answer:The interest you will pay on the margin loan can be calculated using the formula:
Interest = Principal x Rate x Time
Where:
- Principal = $70,000
- Rate = 8.8% per year, or 0.088 per year in decimal form
- Time = 6 months, or 0.5 years in decimal form
Plugging these values into the formula, we get:
Interest = $70,000 x 0.088 x 0.5 = $3,080
Therefore, you will pay $3,080 in interest on the margin loan if you repay it in six months.
Step-by-step explanation: