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
2 answers:
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:
Ben sold 442 shares of Xyx Motors when the share price was $23.14,
The broker's charge for selling 442 shares:
Profit earn by Ben is:
The total profit earned by Ben is: Profit - Broker's charges
Hence, the correct choice is C) $1,157.48
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