Question

Mrs. Trujillo bought 400 shares of a company's stock for $42.98/share. She pays a broker a commission of $16 to buy and sell stock. After one year, she sold all her shares, when they were worth $56.13/share. What was her net gain?

Answer 1

Answer:

$5228

Step-by-step explanation:

$42.98 x 400 = $17,192

$56.13 x 400 = $22,452

$22,452 - $17,192 = $5,260

$5,260 - $32 = $5,228

Essentially, in the problem you multiply both $42.98 and $56.13 by 400 and then subtract them from one-another. You then take $16 and multiply it by two, one for the base cost and then another $16 for a having one year pass. Then you subtract that from the byproduct of $22,452 - $17,192. As such, your answer should be $5,228.