If Mondell Barnett purchases stock valued at $10,000 and is charged 1 percent commission, what is the total amount he must pay the brokerage firm?
A) $100
B) $9,900
C) $10,000
D) $10,100
E) It is impossible to tell given the above information.

Question

Quizplus · Accepted Answer

Mondell Barnett must pay a 1% commission on the stock valued at $10,000. 1% of $10,000 is $100, so the total amount he must pay the brokerage firm is $10,100 ($10,000 for the stock and $100 for the commission).

If Mondell Barnett Purchases Stock Valued at $10,000 and Is