Question

You sold 500 shares of Intel for $26.75 per share. Your broker charges you a

commission of $2.75 per thousand dollars of stock bought or sold. How much
money will be credited to your account when you sell? (Remember, commissions
are subtracted out of your transaction.)

Answer 1

Answer: $13339.25

Explanation:

Since 500 shares of Intel were sold for $26.75 per share, the total amount will be:

= 500 × $26.75

= $13375

Since the broker charges a

commission of $2.75 per thousand dollars of stock bought or sold, the amount charged by the broker on $13375 will be:

= $2.75 × 13

= $35.75

The amount that'll then be credited into ones account will be:

= $13375 - $35.75

= $13339.25