mrs. trujillo bought 400 shares of a companys stock for $42.98/share. she pays a broker a commission of $16…

mrs. trujillo bought 400 shares of a companys stock for $42.98/share. she pays a broker a commission of $16 to buy and sell stock. after one year, she sold all her shares, when they were worth $56.13/share. what was her net gain? $5228 $5244 $5260 $5276

mrs. trujillo bought 400 shares of a companys stock for $42.98/share. she pays a broker a commission of $16 to buy and sell stock. after one year, she sold all her shares, when they were worth $56.13/share. what was her net gain? $5228 $5244 $5260 $5276

Answer

Explanation:

Step1: Calculate total selling - price

The selling - price per share is $56.13$ and the number of shares is $400$. So the total selling - price before commission is $56.13\times400 = 22452$ dollars.

Step2: Calculate total buying - price

The buying - price per share is $42.98$ and the number of shares is $400$. So the total buying - price before commission is $42.98\times400=17192$ dollars.

Step3: Calculate total commission

She pays a commission of $16$ dollars to buy and $16$ dollars to sell, so the total commission is $16 + 16=32$ dollars.

Step4: Calculate net gain

Net gain=Total selling - price−Total buying - price−Total commission. Substitute the values: $22452-17192 - 32=5228$ dollars.

Answer:

$5228$