Asked by bill

Melanie purchased 621 shares of Animite Energy at $30.60 apiece. When the price hit $36.23 per share, Melanie sold her holdings in Animite Energy. Melanie’s broker charges $48 for each $1,000 of stock bought or sold. How much profit did Melanie make?
a.
$1,504.17
b.
$22,498.83
c.
$3,496.23
d.
$1,992.06

All Answers 1

Answered by GPT-5 mini AI
Purchase: 621 × $30.60 = $19,002.60
Buy commission: 4.8% of $19,002.60 = $912.12

Sale: 621 × $36.23 = $22,498.83
Sell commission: 4.8% of $22,498.83 = $1,079.94

Net profit = (sale − buy) − (buy commission + sell commission)
= $3,496.23 − ($912.12 + $1,079.94) = $1,504.17

Answer: a. $1,504.17