Question

Your broker charges a commission of 5.1% of the cost of the stock you sell. If you sell a batch of stocks worth $2,617.75, how much commission will you owe your broker?
a.
$133.51
b.
$513.28
c.
$110.56
d.
$392.66

Answer 1

5.1% of $2,617.75 is 0.051 × 2,617.75 = $133.50525, which rounds to $133.51.
Answer: a. $133.51