Two years ago, you purchased 164 shares of IBM stock for $111 a share. Today, you sold your IBM stock for $139 a share. For this

Question

2 years ago

14

Two years ago, you purchased 164 shares of IBM stock for $111 a share. Today, you sold your IBM stock for $139 a share. For this

problem, ignore commissions that would be charged to buy and sell your IBM shares and dividends you might have received as a shareholder. (a) What is the amount of profit you earned on each share of IBM stock

Business

1 answer:

Hunter-Best [27] · Answer 1 · 2022-10-22T17:37:54+03:00

Answer:

a. $28

b. $4,592

Explanation:

Missing <em>"(b) What is the total amount of profit for your IBM investment?"</em>

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a. The amount of profit per share = (End price-Beginning price) = ($139 - $111) = $28.

Thus, the amount of profit i earned on each share of IBM stock is $28

b.Total amount of profit = The amount of profit per share*Number of shares =($28 * 164) = $4,592

Thus, the total amount of profit for my IBM investment is $4,592