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eleanor purchased $2568 worth of stock and paid her broker a 0.5% fee. She sold the stock when the stock price increased to 3928 using an online broker that charged $7 per trade. What are her net proceeds?

Respuesta :

Answer: $1338.16

Explanation: Total cost of stock= $2568

Total cost of stock including the brokerage [tex]=2568+\frac{0.5}{100}\times {2568}=2580.84[/tex]$

Selling price of stock = $3928

Selling price of stock including trading fee=($3928-$7)=$3919

Net Proceeds = Net selling price of stock - Cost Price of stock

Net Proceeds = ($3919 - $2580.84) = $1338.16


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