Question

To expand his portfolio, Austin recently purchased 400 shared of common stock in the Fourth Financial Services Corporation, a banking firm in North Carolina, the current market price of common stock is $23.30 per share. Austins total wealth from investments is ________

Answer 1

Austin's total wealth from his investment in the common stock of the Fourth Financial Services Corporation is $9,320.

Step-by-step explanation:

To calculate Austin's total wealth from investments held in common stock of the Fourth Financial Services Corporation, a banking corporation in North Carolina, we simply multiply the number of shares he owns by the current market price per share. Austin purchased 400 shares of common stock, and the current market price is $23.30 per share.

Therefore, Austin's total wealth from this investment can be calculated as follows:
400 shares × $23.30 per share = $9,320

Thus, Austin's total wealth from his investment in the Fourth Financial Services Corporation's common stock is $9,320.