First, calculate the total cost of the shares:
200 shares * $12.50 per share = $2500
Next, calculate the commission Maureen had to pay:
1% commission * $2500 = $25
Finally, add the commission to the total cost of the shares to find the total purchase price:
$2500 + $25 = $2525
Therefore, the total purchase price of the stock, including the commission, was $2525.
Maureen bought 200 shares of BETA Corp. for 12 1/2 per share. What was
the total purchase price of the stock if she had to pay a 1% commission
to her stockbroker?
1 answer