Question

Please answer the following essay question:

Derek purchased 200 shares of stock at $35.11 per share. His full-service
stockbroker charged a $50.00 commission for the transaction. What is the
total amount he paid for the stock? Show all work.
Answer in paragraph form using complete sentences and include any
calculations, graphs, and labeled diagrams as appropriate.

Answer 1

$7072

Explanation:

The shares themselves cost 200(35.11)=$7022.

Adding the commission, we get 7022+50=$7072.