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Scilla [17]
3 years ago
11

Kim placed an order with her broker for 800 shares of each of three IPOs being offered this week. Each of the IPOs has an offer

price of $30. The number of shares allocated to Kim along with the closing prices on the first trading day are:Stock Shares Allocated Price A 700 $ 29.15 B 430 33.86 C 340 36.43 What is Kim's total profit on these three stocks at the end of the first day of trading? Multiple Choice a. $4,929.50 b. $3,251.00 c. $3,715.40 d. $1,591.20 e. $6,608.00
Business
1 answer:
Ainat [17]3 years ago
8 0

Answer:

B. $3,251

Explanation:

Stock shares × Allocated price = Shares closing price

A 700 ×$ 29.15 =$20,405

B 430 ×33.86=$14,560

C 340× 36.43 =$12,386

Total $47,351

Stock shares × IPO price= Shares IPO price

A 700 ×$30=$21,000

B 430×$30= $12,900

C 340×$30=$10,200

Total $44,100

Total Profits $47,351-$44,100

=$3,251

Therefore Kim's total profit on these three stocks at the end of the first day of trading will be $3,251

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