Jamie bought 200 shares of MCN stock at $29.38 per share. Eight months later she sold the stock at $31.63 per share. Assume a 2% commission is charged on both buying and selling the stock. What was Jamie's ROI?

Question

Quizplus · Accepted Answer

Bought: 200 × $29.38 = $5,876; $5,876 × (100% + 2%)= $5,993.52; Sold: 200 × $31.63 = $6,326; $6,326 × (100% - 2%)= $6,199.48; Net gain: $6199.48 - $5993.52 = $205.96; $205.96/$5993.52 = 3.4%.

Jamie Bought 200 Shares of MCN Stock at $29