Question

Pete sold 150 shares of stock a at $10.98 per share through his broker. His broker charges $28 per trade. How much money did Pete receive from the sale after the broker took his fee?

Answer 1

Select the correct answer.

Pete sold 150 shares of stock A at $10.98 per share through his broker. His broker charges $28 per trade. How much money did Pete receive from the sale after the broker took his fee?

A.

$1,647

B.

$1,619

C.

$1,098

D.

$1,070

Explanation:

Answer 2

$1619

Explanation:

From the first statement, he sold 150 shares at $10.98 per trade, this means the total amount in which the sale cost is 10.98 × 150 =

$1647

Now we are told that the broker charged an amount of $28 per trade. Hence , the amount left after the broker had removed his charges is the total amount minus the broker fee.

That equals, 1647 - 28 which is $1619