To calculate the total price of the stock, we first need to calculate the cost of the 200 shares at $34 1/2 per share.
Cost of 1 share = $34 1/2 = $34.50
Total cost of 200 shares = $34.50 * 200 = $6900
Now we need to add the 1% commission to the total cost.
Commission = 1% of $6900 = 0.01 * $6900 = $69
Total price of the stock = Total cost of 200 shares + Commission
= $6900 + $69
= $6969
Therefore, the total price of the stock was $6969.
Nadia bought 200 shares of stock at 34 1/2. She had to pay a 1%
commission to her broker. What was the total price of the stock?
1 answer
1 answer