Answer to Question #349110 in Financial Math for Nalyn

Question

6. Suppose you bought 300 shares of Barney’s Burger at the 52-week low and sold the shares at the 52-week high. Suppose the selling price per share was P7.47 and the purchase price per share was P2.56.

(a) Ignoring dividends, what was your profit or loss on the sale of stock?

(b) If your broker charges 2.1% of the total sale price, what was the broker’s commission? Round to the nearest cent.

Show your solutions.

Answer 1

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