an investor purchased 60 shares of stock in a company for $2,940, with an $8 commission. later, all of the…

an investor purchased 60 shares of stock in a company for $2,940, with an $8 commission. later, all of the stock was sold at $51 per share. what was the gain or loss on this investment? gain or loss = $? enter a gain as positive and a loss as negative

an investor purchased 60 shares of stock in a company for $2,940, with an $8 commission. later, all of the stock was sold at $51 per share. what was the gain or loss on this investment? gain or loss = $? enter a gain as positive and a loss as negative

Answer

Explanation:

Step1: Calculate the total selling - price

The number of shares is 60 and the selling price per share is $51. So the total selling - price is the product of the number of shares and the selling price per share. $51\times60 = 3060$

Step2: Calculate the total cost

The cost of purchasing the shares is $2940 and the commission is $8. So the total cost is the sum of the purchase cost and the commission. $2940 + 8=2948$

Step3: Calculate the gain or loss

The gain or loss is the total selling - price minus the total cost. $3060−2948 = 112$

Answer:

112