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Korvikt [17]
4 years ago
10

Broker P charges a commission of $8.50 for every ten shares of stock, and Broker Q charges a fee of $65.00 for every thousand do

llars bought or sold. If stock in Ergar Appliances costs $18.75 per share and you buy 500 shares, which broker is the better deal, and by how much?
Mathematics
2 answers:
FrozenT [24]4 years ago
7 0

We have been given that Broker P charges a commission of $8.50 for every ten shares of stock, and Broker Q charges a fee of $65.00 for every thousand dollars bought or sold.

Let us find commission of each broker to buy 500 shares.

\text{Broker P will charge}=\frac{8.50}{10} \times 500

\text{Broker P will charge}=8.50 \times 50

\text{Broker P will charge}=425

Broker P will charge $ 425 for 500 shares.

Let us find commission for broker Q.  

\text{Cost of buying Ergar Appliances share}=18.75 \times 500

\text{Cost of buying Ergar Appliances share}=9375

We are told that Broker Q charges a fee of $65.00 for every thousand dollars bought or sold. 9375 is same as 9.375 thousands.

To find broker Q's commission we will multiply 9.375 by 65.

\text{Broker Q will charge}=65 \times 9.375

\text{Broker Q will charge}=609.375  

We can see that broker Q is charging more than broker P. Let us find difference of commissions of both brokers.

609.375-425=184.375

Therefore, Broker P is the better deal by $184.375.





Neporo4naja [7]4 years ago
4 0
<span> broker p will charge 184.38 less than broker q</span>
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