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Irina18 [472]
2 years ago
15

Stephen bought 85 shares of United Rotators at $6. 34 each, 110 shares of Dowc Beverage Co. At $13. 13 apiece, and 133 shares of

Esti Transport at $7. 10 each. If Stephen’s broker collects a commission of $12. 50 for every ten shares bought or sold, how much did Stephen spend in total, to the nearest dollar? a. $2,972 b. $3,338 c. $6,688 d. $2,438.
Business
1 answer:
dsp732 years ago
7 0

The total spend of Stephen in acquiring the ten shares or selling the ten shares of the company is $3338.

Computation of the total spend by Stephen:

\begin{aligned}\text{Stephen bought shares of united rotators worth} = 85 \times \$6.34 = \$538.9\end{aligned}

\begin{aligned}\text{Stephen bought shares of down beverages worth} = 110 \times \$13.13 = \$1444.3\end{aligned}

\text{Stephen bought shares of esti transport worth} = 133 \times \$7.10 = \$944.3\end{aligned}

\begin{aligned}\text{Commission collected by Stephen's broker} &=  \text{every 10th shares} x\times\$12.50\\\text{Commission collected by Stephen's broker} &=\frac{328}{10} \times \$12.50\\\text{Commission collected by Stephen's broker}&=32.8 \times \$12.50\\\text{Commission collected by Stephen's broker}&= \$410\end{aligned}

The total spending of Stephen can be calculated by adding all the purchased shares and the commission collected by Stephens.

\begin{aligned}\text{Total spending of Stephens} = \$ 538.9+\$1444.3+\$944.3+\$410\end{aligned}\\\text{Total spending of Stephens} =\$3337.5

Therefore, the total amount of spending can be taken as approx $ 3338.

The correct option is b.

To know more about the  computation of the total spending, refer to the link below:

brainly.com/question/10318163

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