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

The question does not provide the closing price for Stock A on the given day, so it cannot be determined. Therefore, the only way to answer the question is to calculate the cost of purchasing a round lot of Stock A at the highest price option, which is $195 per share. A round lot typically consists of 100 shares, so the cost would be 100 x $195 = $19,500. Therefore, choice D is the nearest option to the answer which would be the cost of purchasing a round lot of Stock A at the highest price option.

How Much Would It Cost to Purchase a Round Lot