Jeffrey Marcus purchased 800 shares of General Tectonics common stock at 16.40 per share. A few months later, Jeffrey sold the shares at 19.80. His stockbroker charges 3 commission. What was his gain or loss on this investment? (Round your answer to the nearest cent if necessary)
Question 2
Narrative 11-1 Solve the following problems using either Tables 11-1 or 11-2 from your text. When necessary, create new table factors. (Round new table factors to five decimal places, round dollars to the nearest cent and percents to the nearest hundredth of a percent) Refer to Narrative 11-1. Ben invests 19,500, at 12 interest, compounded quarterly for 10 years. Calculate the compound amount for his investment.
A) 73,369.46
B) 71,214.36
C) 68,305.89
D) 63,609.59
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Determine the nominal annual rate of interest of the following ordinary general annuity.