An investor purchased 200 shares of stock at $54.54 per share. She later sold it at $51.67 . The broker's commission on the purchase was 3% and 1% on the sale. Find the amount of money the investor lost on the stock.

Question

Quizplus · Accepted Answer

The investor bought the shares for $54.54 each, totaling $10,908. The 3% commission on purchase is $327.24. The total cost is $11,235.24. She sold the shares for $51.67 each, totaling $10,334. The 1% commission on sale is $103.34. The total received is $10,230.66. The loss is $11,235.24 - $10,230.66 = $1,004.58.

An Investor Purchased 200 Shares of Stock at $54