Eleanor purchased $2,568 worth of stock and paid her broker a 0.5% fee.She sold the stock when the stock price increased to $3,298 using an online broker that charged $7 per trade.What are her net proceeds?

Question

Quizplus · Accepted Answer

The broker fee for purchasing the stock is $2,568 * 0.5% = $12.84. The broker fee for selling the stock is $7. The net proceeds are $3,298 - $12.84 - $7 = $3,278.16.

Eleanor Purchased $2,568 Worth of Stock and Paid Her Broker