Concept explainers
To find: the amount in dollars, he did spend for the purchase and commission combined.
Answer to Problem 16CCSR
The total amount spent by C is $1165.
Explanation of Solution
Given information:
C purchased 50 shares of a stock at $23 per share. He paid a $15 commission to his broker for the purchase.
Calculation:
C purchased 50 shares of a stock at $23 per share. He paid a $15 commission to his broker for the purchase.
The total cost price of 50 shares is obtained as follows,
The cost of the shares is $1150.
The total amount spent by C for the purchase of shares and commission is obtained as follows.
The total amount spent by C is $1165.
Chapter 7 Solutions
High School Math 2015 Common Core Algebra 1 Student Edition Grade 8/9
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