Question

Your full-service brokerage firm charges $120 per stock trade. How much money do you receive after selling 150 shares of Nokia Corporation (NOK), which trades at $18.63?

Answer 1

Amount received= $2,674.50

Step-by-step explanation:

Stock brokerage firms are financial institutions that manage a client's assets. They represent a client when they are buying or selling stocks.

Stock brokers usually charge a fee when performing brokerage services for clients.

In this case the stock broker charges $120 per stock trade

Amount received= (Unit price * Number of shares) - Stock broker fee

Amount received= (18.63*150) - 120

Amount received= $2,674.50