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Eleanor purchased $2,568 worth of stock and paid her broker a 0.5% fee. She sold the stock when the stock price increases to $3,298, using an online broker that charged $7 per trade. What are her net proceeds? A. $755.68 B. $851.40 C. $735.84 D. $710.16

2 Answers

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(3298-2568)-(2568(0.005))-7

730-12.84-7

$710.16






User Manish Goyal
by
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2 votes

Answer:

The correct option is D.

Explanation:

It is given that Eleanor purchased $2,568 worth of stock and paid her broker a 0.5% fee.

Total cost price of stock is


Cost=2568+(0.5)/(100)* 2568


Cost=2568+12.84


Cost=2580.84

She sold the stock when the stock price increases to $3,298, using an online broker that charged $7 per trade. So, her net profit is


Profit=\text{Selling price-Cost-online broker charges}


Profit=3298-2580.84-7


Profit=710.16

Eleanor net proceed is $710.16.

Therefore the correct option is D.

User Elvis Oliveira
by
8.5k points
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