Question

Kendra sold 200 shares through her broker on June 8. The price per share was $22.10. The broker charged her a 0.5% commission on the total value. What was Kendra’s return on the trade?
A. $4,397.90

B. $4,420.00

C. $4,596.90

D. $4,620.00

Answer 1

Answer:

A. $4397.9

Explanation:

We are given that Kendra sold 200 shares and that the price per share was $22.1

This means that:

Total value = 200 * 22.1 = $4420

Now, we know that the broker charged 0.5% commission on the total value

This means that:

Broker's charge = 0.5% * 4420 = 0.005 * 4420 = $22.1

Therefore,

Kendra's return = Total value - broker's charge

Kendra's return = 4420 - 22.1 = $4397.9

Hope this helps :)