Geoffrey buys 48 shares of Deegan Pharmaceuticals at $6.15 each, and his broker charges him a commission of $81. How much did Geoffrey pay for his stock?

Question

asked Jul 19, 2019 224k views

2 Answers

TLK · Answer 1 · 2019-07-25T17:39:01+0000

Answer:

$\$376.2$

Explanation:

Given: Geoffrey buys
$\$48$ shares of Deegan Pharmaceuticals at
$\$6.15$ each, and his broker charges him a commission of
$\$81$

To Find: How much did Geoffrey pay for his stock.

Solution:

Total number of shares of Deegan pharmaceutical bought
=48

price of each share
$=\$6.15$

commision charged by broker
$=\$81$

Now,

total cost of share
$=(\text{total number of shares})*(\text{price of one share})$

=48*6.15

$\$295.2$

total cost of stock after adding broker commission

295.2+81

$\$376.2$

Geoffrey paid
$\$376.2$ for his stock