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Ron purchases $32,000 worth of stock on his brokers advice and pays his broker a 1.25% broker fee. How much did he pay his broker! Show work please !!

Ron purchases $32,000 worth of stock on his brokers advice and pays his broker a 1.25% broker fee. How much did he pay his broker! Show work please !!
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13 votes
Ron purchases $32,000 worth of stock on his brokers advice and pays his broker a 1.25% broker fee. How much did he pay his broker! Show work please !!

User Sbaxter
by
8.6k points

2 Answers

3 votes
32000 x 0.0125 = 400
User Denim Datta
by
7.8k points
9 votes
Ron would have to pay his broker $400 because 1.25 percent of 32,000 is 400
User Aadidasu
by
8.9k points
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