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Author Question: Bill purchased 100 shares of stock at 24.05 per share. The commission is 2.5 of the total ... (Read 490 times)

dalyningkenk

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on: Jun 24, 2018
Bill purchased 100 shares of stock at 24.05 per share. The commission is 2.5 of the total transaction. What is the total cost of the transaction?

Question 2

Flint purchased 430 shares of stock at 15.65 per share. The commission is 2.5 for round lots and an additional 4 for odd lots. What is the total cost of the transaction?


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kaillie

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Reply #1 on: Jun 24, 2018
Answer to Question 1

2,465.13;
100  24.05 = 2,405
0.025  2,405 = 60.13
2,405 + 60.13 = 2,465.13

Answer to Question 2

6,904.78;
430  15.65 = 6,729.50
400  15.65  0.025 = 156.50
30  15.65  0.04 = 18.78
6,729.50 + 156.50 + 18.78 = 6,904.78


dalyningkenk

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Reply 2 on: Jun 24, 2018
Wow, this really help

dyrone

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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