Question

Nancy Billows bought 150 shares of NBC Universal stock at $22.885 per share. Her broker charged her $22.05 for the brokerage commission. What is the average cost per share (include brokerage fee) to the nearest cent?

Answer 1

Most fool-proof way to do this in my opinion is to simply expand everything and write it out, i.e.

`(150*22.885+22.05)/(150)`
Throwing this into a calculator, we get 23.032
To the nearest cent, this gives us $23.03