Question

Choose the correct answer. Sam decides to buy 100 shares of ABC company.They cost $26.25 a share.The commission is 5% of the total price.What is Sam's total cost? $

Answer 1

$2756.25

Explanation:
Trust

Answer 2

One share cost: $26.25.

Sam wants to buy 100, which means that the total price of the shares is:

100*$26.25=$2625.

There is also commission of 5% of the total amount:

5% of $2625, which is:

(5/100)*$2625=0.05*$2625=$131.25

So, Sam's total cost will be: the total price of the shares + the commission

$2625+$131.25=$2756.25

Explanation: