Question

Pete bought 70 shares of WBC co. at the close price of $41.25. his broker charges him 3% of each share as a transaction fee. how much did Pete spend in total to buy this stock?

Answer 1

Answer:2974.125

Explanation:

Price of a share is 41.25

and price of 70 shares =
`41.25* 70`

=2887.5

and broker charges =3%

i.e. 3% of 41.25=1.2375

For 70 shares=86.625

Therefore he paid=2887.5+86.625=$ 2974.125