Answer:
$ 914.625 Loss
Explanation:
Brokers fee increases the cost price of an item. It can lead to high and selling or buying time.
Brokerage amount = 1 of (1+1.5 % of 7,000)
=1 +1.5 /100 x 7200
=$1+ 0.015 x 7200
=$7,308
The net selling price will be 6, 325 -( 0.5% x 6, 325)
=6,325 -31.625
=6,293.375
The proceeds will be Purchase price - net selling price
=$ 7,308 - $6,293.375
= ($ 914.625)
A loss of 914.625
