Answer:
$5.91
Explanation:
Data provided in the question:
Number of shares sold = 300
Selling price = $30.19
Commission charge = 0.5% = 0.005
Purchasing price = $29.87
Now,
Total selling price = 300 × $30.19
= $9057
Proceeds from selling =Total selling price - Commission
= $9057 - [0.005 × $9057 ]
= $9,011.715
Now
Purchasing price of the shares = 300 × $29.87 = $8,961
Total amount paid for purchasing
= Purchasing price of the shares + Commission
= $8,961 + [0.005 × $8,961 ]
= $8,961 + $44.805
= $9,005.805
Hence,
Profit = Proceeds from selling - Total amount paid for purchasing
= $9,011.715 - $9,005.805
= $5.91