If you purchased 450 shares of Apple stock 3 years ago for $112.30 per share and you paid 4% commission for the purchase. How much was the total purchase cost you?

Question

asked Apr 11, 2022 118k views

1 Answer

Vimzy · Answer 1 · 2022-04-17T16:27:46+0000

Answer: $52556.40

Explanation:

Price per share = $112.30

Number of shares = 450

Cost of the shares = 450 × $112.30 = $50535

Since there is a 4% commission, the total cost of the purchase will be:

= $50535 + (4% × $50535)

= $50535 + (0.04 × $50535)

= $50535 + $2021.40

= $52556.40