Question

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 !!

Answer 1

$400

Explanation:

Given data

Worth of stock= $32,000

Broker fee= 1.25%

let us find 1.25% of $32,000

=1.25/100* 32000

=0.0125*32000

=$400

Hence he paid the broker $400