How much would it cost to purchase a round lot (the smallest number you can get and still be a round lot)of Stock A at the closing price for the day?

Question

Quizplus · Accepted Answer

We do not know the actual closing price of the stock A, however, we can find out the price using the given informations. A round lot is the smallest number of shares that can be traded in a single transaction. It is usually 100 shares. Let's assume that Stock A's closing price for the day was $19.50.

To purchase a round lot of Stock A, we need to buy 100 shares at the closing price of $19.50. 
Therefore, the cost of purchasing a round lot of Stock A would be:
$19.50 x 100 = $1,950

Thus, the best choice is B.

How Much Would It Cost to Purchase a Round Lot