Asked by Irene Godinez on May 10, 2024
Verified
McKenzie buys 250 shares of stock for $12 a share and pays a 2% commission.She sells the stock 3 years later for $18 a share and pays a 1% commission.What are her net proceeds?
Net Proceeds
The total amount of money received from a sale or transaction, after all expenses and costs have been subtracted.
2% Commission
A fee paid to a salesperson, broker, or agent, equivalent to 2% of the sales amount or transaction value.
- Calculate net proceeds from stock transactions including commissions and fees.
Verified Answer
MA
Michael AlemuMay 12, 2024
Final Answer :
1,395.00;250 × 12 = 3,000 × 0.02 = 60;3,000 + 60 = 3,060;
250 × 18 = 4,500 × 0.01 = 45;4,500 - 45 - 3,060 = 1,395.00
250 × 18 = 4,500 × 0.01 = 45;4,500 - 45 - 3,060 = 1,395.00
Learning Objectives
- Calculate net proceeds from stock transactions including commissions and fees.