Question

If you purchased 450 shares of Apple stock 3 years ago for $112.30 per share and you paid 4%

commission for the purchase. How much was the total purchase cost you?

Answer 1

Answer: $52556.40

Explanation:

Price per share = $112.30

Number of shares = 450

Cost of the shares = 450 × $112.30 = $50535

Since there is a 4% commission, the total cost of the purchase will be:

= $50535 + (4% × $50535)

= $50535 + (0.04 × $50535)

= $50535 + $2021.40

= $52556.40