Question

James Turbyfil purchased 100 shares of IBM for $72. James also paid $55 commission. What was the total purchase price for this transaction

Answer 1

$7,255

Step-by-step explanation:

The computation of the total purchase price is shown below:

= Number of shares purchased × par value per share + commission paid

= 100 shares × $72 + $55

= $7,200 + $55

= $7,255

The Number of shares purchased × par value per share is also known as total purchase value

We simply calculate the total purchase value and then added the commission paid so that the accurate value can come