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lesya692 [45]
2 years ago
8

Carolyn bought 200 shares of stock at $30 per share ($6,000 total). She paid $3,000 in cash and borrowed $3,000 from the brokera

ge firm. The loan has an annual interest rate of 5 percent. Six months later, she sold the stock for $40 per share. Carolyn paid a commission of $120 and repaid the loan. Her net profit was $
Business
1 answer:
Alexeev081 [22]2 years ago
6 0

Carolyn's net profit from her investment was <em>$1,805.</em>

<h3>Data and Calculations:</h3>

Investment in 200 shares at $30 per share = $6,000

Loan from brokerage firm = $3,000

Annual interest rate = 5%

Interest expense for 6 months = $75 ($3,000 x 5% x 6/12)

Proceeds from the sale of the investment = $8,000 ($40 x 200)

Commission to brokerage firm = $120

The Gross profit from the sale of the investment = $2,000 ($8,000 - $6,000)

The Net profit from the investment = $1,805 ($2,000 - $75 - $120).

Thus, Carolyn's net profit from her investment was <em>$1,805.</em>

Learn more about calculating the net profit here: brainly.com/question/4177260

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