Darlene purchases 20,000 worth of stock on her brokers advice and pays her broker a 1.5% broker fee darlene purchases 20,000 worth of stock on your brokers advice and pays her broker a 1.5% broker freeshe sells her stock when it increases to $28,600.02 years later and uses a discount broker who charges $21 per trade compute Darlenes net proceeds after the broker fees are taken out
Answers
Answer:
Darlene's net proceeds after the broker fees are taken out is $8,279.
Step-by-step explanation:
From the question, the following can be obtained:
Basic cost of purchase of the stock = $20,000
Broker fee related to purchase = Basic cost of purchase of the stock * 1.5% = $20,000 * 1.5% = 300
Total cost of purchase of the stock = Basic cost of purchase of the stock + Broker fee related to purchase = $20,000 + 300 = $20,300
Selling price = $28,600
Broker fees related sales = 21
The net proceed can therefore be calculated as follows:
Net proceeds = Selling price - Broker fees related sales - Total cost of purchase of the stock = $28,600 - $21 - $20,300 = $8,279
Therefore, Darlene's net proceeds after the broker fees are taken out is $8,279.
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This fraction is greater than both 34 and 45, so it is not between them.
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