30 shares of stock were purchased for $40 per share with a $6 commission. what is the total cost of this…

30 shares of stock were purchased for $40 per share with a $6 commission. what is the total cost of this investment? total cost = $? total cost = number of shares · price per share + commission

30 shares of stock were purchased for $40 per share with a $6 commission. what is the total cost of this investment? total cost = $? total cost = number of shares · price per share + commission

Answer

Explanation:

Step1: Calculate the cost of shares

The cost of shares is the product of the number of shares and the price per share. Number of shares (n = 30), price per share (p=$40). The cost of shares (C_{shares}=n\times p=30\times40 = 1200)

Step2: Add the commission

The commission (C_{commission}=$6) The total cost (C_{total}=C_{shares}+C_{commission}) (C_{total}=1200 + 6=1206)

Answer:

(1206)