Refer to the following chart. An investor (a day trader) always buys 500 shares of stock at the market close price and sells them at the last sale price, paying a $30 commission per transaction.   The stock the trader bought is MSLV. (a) Find the total cost. $  (b) Find the return for the day. $  (c) Find the percent of return. (Round your answer to one decimal place.)

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
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Chapter11: Investment Planning
Section: Chapter Questions
Problem 4FPE
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Refer to the following chart. An investor (a day trader) always buys 500 shares of stock at the market close price and sells them at the last sale price, paying a $30 commission per transaction.

 

The stock the trader bought is MSLV.

(a) Find the total cost.


(b) Find the return for the day.


(c) Find the percent of return. (Round your answer to one decimal place.)
NASDAQ - After Hours 10 Most Advanced
Symbol
Last
Company Market Sale
Name
Close
MSLV MetaSolv Inc.
Penns Woods
Bancorp, Inc.
PWOD
(after
hours)
XXIA Ixia
$2.21 $2.60
NEON NEON Systems, Inc. $3.01 $3.25
Mechanical
MKTY Technology
Incorporated
$41.17 $44.62
Strategic
SDIX Diagnostics Inc. $3.50 $3.70
$18.96 $19.90
$3.61 $3.78
%
Share
Change Volume
(after
hours)
17.65%
8.38%
7.97%
5.71%
4.96%
4.59%
(after
hours)
500
1,500
1,000
7,200
57,965
100
Transcribed Image Text:NASDAQ - After Hours 10 Most Advanced Symbol Last Company Market Sale Name Close MSLV MetaSolv Inc. Penns Woods Bancorp, Inc. PWOD (after hours) XXIA Ixia $2.21 $2.60 NEON NEON Systems, Inc. $3.01 $3.25 Mechanical MKTY Technology Incorporated $41.17 $44.62 Strategic SDIX Diagnostics Inc. $3.50 $3.70 $18.96 $19.90 $3.61 $3.78 % Share Change Volume (after hours) 17.65% 8.38% 7.97% 5.71% 4.96% 4.59% (after hours) 500 1,500 1,000 7,200 57,965 100
Expert Solution
Step 1

Return can be calculated as = Sale Value - Purchase Cost - Commission on Sale

Return Percentage can be calculated as = (Return / Purchase Cost) x 100

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