Question

Abigail Eddy purchased 200 shares of stock at $11.58 per share. Her online stockbroker charged her a $12.50 commission. To the nearest cent, what is the total amount that she paid for the stock?

Answer 1

Total paid
Cost of stock+ commission
(200×11.58)+12.50
=2,328.5

Answer 2

Total amount paid = $2328.50

Explanation:

Abigail purchased total shares = 200

Price of one share = $11.58

Her online stockbroker charged her a commission = $12.5

Now the amount paid by Eddy will be represented by

Total amount paid = (Number of shares purchased×price of one share) + Commission paid by Eddy

Total amount paid = 200×11.58 + 12.50 = 2316 + 12.50 = 2328.50

Therefore total amount paid by eddy for the purchase of share = $2328.5