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

Question

3 years ago

7

ice. What was the total cost of the bonds to the nearest cent

1 answer:

LenKa [72] · Answer 1 · 2022-01-06T21:12:04+03:00

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