Asked by Kendall Smith on May 15, 2024
Verified
Chantel purchased $292,565.00 worth of stock and paid her broker a 1% broker fee.She sold the stock when it increased to $436,527.00 three years later and used a discount broker that charged $140 per trade.Determine Chantel's net proceeds after all broker fees were paid.
Broker Fee
A charge or commission a broker commands for their service in facilitating transactions, such as buying or selling securities.
Discount Broker
A broker who trades stocks, but does not give investment advice.
- Compute the net earnings from transactions involving stock, factoring in both commissions and fees.
Verified Answer
CR
Learning Objectives
- Compute the net earnings from transactions involving stock, factoring in both commissions and fees.