Solve the problem. Refer to the table if necessary.
-Susan Smith bought 60 shares of Allied Steel at $76.75 per share and 143 shares of Household Bank at $23.50 per share. Find the total amount that she paid, ignoring broker's commissions.

Question

Solve the problem. Refer to the table if necessary. 
-Susan Smith bought 60 shares of Allied Steel at $76.75 per share and 143 shares of Household Bank at $23.50 per share. Find the total amount that she paid, ignoring broker's commissions.

Quizplus · Accepted Answer

To find the total amount that Susan paid, we need to multiply the number of shares by the price per share for each stock and then add the two products:
60 shares of Allied Steel at $76.75 per share cost 60 x 76.75 = $4,605.00
143 shares of Household Bank at $23.50 per share cost 143 x 23.50 = $3,360.50
Adding these two amounts, we get:
$4,605.00 + $3,360.50 = $7,965.50
Therefore, the best choice is C, $7,965.50. Total amount for Allied Steel = $76.75 x 60 shares = $4,605
Total amount for Household Bank = $23.50 x 143 shares = $3,370.50

Total amount paid = $4,605 + $3,370.50 = $7,965.50

Therefore, the best choice is C, as it is the correct total amount that Susan Smith paid.

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