Ernesto Montenegro purchase a twelve 1000 Bonds having a quoted price of 100.75 he have to pay a 6% brokerage fee of the same pr
ice. What was the total cost of the bonds to the nearest cent
1 answer:
Answer: $106.8
Step-by-step explanation:
Given that the bond price is $100.75
With a 6% brokerage fee
Find the total cost to the nearest cent
First, we calculate the 6% brokerage fee= 6/100 × 100.75
= 0.06 x 100.75
= 6.045
Total cost therefore is the sum of brokerage fee and the cost of bond
= $6.045 + $100.75
= $106.795
To the nearest cent = $106.8
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hopefully this is correct and helped! ♡
