Question

Giovanni bought 30 shares of Stock XYZ at the close price of $6.31. He

bought 30 more shares a year later at the price of $9.09. If his broker charges
$16 for each transaction how much money did Giovanni spend in total to
make these purchases?​

Answer 1

Use the explantion to answer your question

Explanation:

Amount he paid for first 20 shares

= $25 + (20 x $10.51)

= $25 + $210.20

= $235.20

Amount he paid for next 20 shares

= $25 + (20 x $8.93)

= $25 + $178.60

= $203.60

Thus, total amount paid

= $235.20 + $203.60

= $438.80

Answer 2

$494

Explanation:

30 * 6.31 + 16 = $205.30

30 * 9.09 + 16 = $288.70

Total = $494