Missy bought 300 shares of GAM Corp. for 14 1/2 per share. What was thetotal purchase price of the stock if she had to pay a 1% commission toher stockbroker?a. $4,350b. $4,393.50c. $4,306.50d. $4,394

Respuesta :

Multiply the number of shares that Missy bought with the price per share.

[tex]\begin{gathered} \$14\frac{1}{2}\rightarrow\$14.5 \\ \\ \$14.5\times300=\$4350 \end{gathered}[/tex]

Determine the commission to her stockbroker.

[tex]\begin{gathered} 1\%\rightarrow0.01 \\ \\ \$4350\times0.01=\$43.50 \end{gathered}[/tex]

Add the total price for the 300 shares plus the 1% commission.

[tex]\$4350+\$43.50=\$4393.50[/tex]

Therefore, Missy paid a total of $4393.50.