Question

. Many companies sell shares in the company

in order to raise additional money to invest
in new projects. Mr. Monroe purchased
10,000 shares of a new company at $3.12
per each share. How much money did
Mr. Monroe spend to purchase the shares?

Answer 1

9514 1404 393

Answer:

$31,200

Explanation:

He spent 10,000 times the cost of one share:

10,000 × $3.12 = $31,200

_____

Quite often there are brokerage fees that are added to the cost of such a purchase. None are indicated here, so we have just computed the cost of shares.