Ben's broker charges a commission of $9.95 for every $1000 of stock bought or sold.

Mathematics

1 answer:

irga5000 [103]3 years ago

4 0

Answer:

Ben made $4,908.96 profit

up 31.9%

Step-by-step explanation:

Not really sure how the broker is figuring his commission. Some round to the nearest whole $1000, others pro-rate as I have done below.

Ben bought for 600($15.67) + $9.98(600(15.67)/1000) = $9,495.83

Ben sold for 600($24.25) - $9.98(600(24.25)/1000) = $14,404.79

Ben would owe capitol gains tax on 14404.79 - 9495.83 = $4,908.96

(52.75 - 40.00) / 40.00 = 0.31875 up 31.9%

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