Question

Robert and Katie Masterson bought 99 shares of oil stock at a price

of $55 per share and 150 shares of stock in a steel company at $24 per share. The broker’s commission
is $25 for transactions under 100 shares and $0.20 per share for transactions over 100
shares. What is the total combined amount that the Mastersons paid for both stock transactions?

Answer 1

Cost of oil stock
99×55=5,445+(25) commission=5470
Cost of steel stock
150×24=3600+150×0.20=3630

total combined amount
3,630+5,470=9,100