Ben’s broker charges a commission of $125 for every $1,000 of stock bought or sold. Ben bought 442 shares of Xyx Motors when the

Question

3 years ago

5

Ben’s broker charges a commission of $125 for every $1,000 of stock bought or sold. Ben bought 442 shares of Xyx Motors when the

share price was $15.67, and sold them when the share price was $23.14. How much profit did Ben make? a. $10,227.88 b. $8,083.62 c. $1,157.48 d. $3,301.74 Please select the best answer from the choices provided A B C D

Mathematics

2 answers:

Zolol [24] · Answer 1 · 2022-07-12T04:38:56+03:00

Zolol [24]3 years ago

5 0

Answer:d

Step-by-step explanation:

AysviL [449] · Answer 2 · 2022-07-12T06:45:21+03:00

Answer:

The correct choice is C) $1,157.48

Step-by-step explanation:

Consider the provided information.

Ben’s broker charges a commission of $125 for every $1,000 of stock bought or sold.

That means broker charges $0.125 for every stock.

Ben bought 442 shares of Xyx Motors when the share price was $15.67.

The broker's charge for buying 442 shares:

$0.125\times 442\times 15.67=865.7675$

Ben sold 442 shares of Xyx Motors when the share price was $23.14,

The broker's charge for selling 442 shares:

$0.125\times 442\times 23.14=1278.485$

Profit earn by Ben is: $442(\$23.14-\$15.67)=442(\$7.47)=\$3,301.74$

The total profit earned by Ben is: Profit - Broker's charges

$\$3,301.74-(\$865.7675+\$1278.485)=\$3,301.74-\$2144.2525=\$1,157.48$

Hence, the correct choice is C) $1,157.48