Question

After consulting with his broker, Bruce Sower purchased 100 shares of a computer company stock at $44.41 per share. He also purchased 600 shares of a second company’s stock at $19.08 per share. Bruce’s online broker charges $0.04 per share. To the nearest cent, what is the total cost of the stock including the commission?

Answer 1

Total paid
Cost of stock+commission

(100×44.41)+(600×19.08)+(700×0.04)
=15,917

Answer 2

Answer: The total cost of stock including the commission is $15917.

Explanation:

Since we have given that

Number of shares at $44.41 per share = 100

Number of shares at $19.08 per share = 600

Total number of shares = 700

Broker's charges per share = $0.04

So, Total cost of the stock including the commission would be

`100* 44.41+600* 19.08+700* 0.04\\\\=4441+111448+28\\\\=\$15917`

Hence, the total cost of stock including the commission is $15917.