Question

Cassie’s broker charges her a commission of $4.25 for every ten shares of stock bought or sold. Cassie buys 92 shares of Hyren Airlines, 130 of Giaco Household Goods, and 126 of Iwad Records. Hyren Airlines costs $13.70 per share, Giaco Household Goods costs $3.28 per share, and Iwad Records costs $8.06 per share. To the nearest dollar, how much money did Cassie spend in total? a. $3,851 b. $2,850 c. $2,702 d. $2,551

Answer 1

The answer is Letter B - $2,850. 

Multiply the number of shares to their respective costs per share. Add the results. Get the total number of shares then divide it by 10 before multiplying the result to 4.25. Add the product to the previous total.

   Hyren Airlines: 92 shares x 13.70 = 1260.4
   Giaco Household Goods: 130 x 3.28 = 426.40
   Iwad Records: 126 x 8.06 = 1015.56
   Total: 2,702.36
   Commission: (92 + 130 + 126) 348 shares / 10 shares = 34.8 x 4.25 = 147.90
   Total: 2702.36 + 147.90 = 2,850.26 or 2,850

Answer 2

The total money spend by Cassie is $\boxed{\ 2850}.$

Further explanation:

Given:

Commission charge is $\ 4.25$ for every ten shares of the stock bought or sold.

Cassie buys 92 shares of Hyren Airlines, 130 shares of Giaco households Goods and 126 shares of Iwad Records.

Hyren Airlines share costs $\ 13.70.$

Giaco house hold goods costs $\ 3.28$ per share.

Iwad Records cost $\ 8.06$ per share.

Explanation:

The charge per share can be calculated as follows,

$\begin{aligned}{\text{Charge per share}}&= \frac{{4.25}}{{10}}\\&= 0.425\\\end{aligned}$

The cost on the 92 share of Hyren Airlines can be calculated as follows,

$\begin{aligned}{\text{cost}} &= 92 \times 13.7\\&= 1260.4\\\end{aligned}$

The cost on the 130 shares of Giaco Household Good can be calculated as follows,

$\begin{aligned}{\text{cost}} &= 130 \times 3.28\\&= 426.4\\\end{aligned}$

The cost on the 126 shares of Iwad Records can be calculated as follows,

$\begin{aligned}{\text{cost}} &= 126\times 8.06\\&= 1015.56\\\end{aligned}$

The total cost can be obtained as the sum of all the cost of shares.

$\begin{aligned}{\text{Total cost}} &= 1260.4 + 426.4 + 1015.56\\&= \ 2702.36\\\end{aligned}$

The total number of share are $92 + 130 + 126 = 348{\text{ shares}}.$

The commission on the total share can be calculated as,

$\begin{aligned}{\text{commission}} &= 0.425 \times 348\\&= \ 147.9\\\end{aligned}$

The total amount is the sum of cost of all shares and the commission.

$\begin{aligned}{\text{Total amount}}&= 2702.36 + 147.9\\&= \ 2850\\\end{aligned}$

The total money spend by Cassie is $\boxed{\ 2850}.$

Learn more:

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Answer details:

Grade: Middle School

Subject: Mathematics

Chapter:Interest rate

Keywords:Cassie’s, broker, commission, charge, shares, stock, Iwad Records, Giaco households Goods, Hyren Airlines, spend, dollar.