Suppose You Bought 600 Shares of a Stock at $38

question 12

Multiple Choice

Suppose you bought 600 shares of a stock at $38.34 using a broker that charged a 1% commission.
A. Find the total cost of buying the stock.
B. If you sold them later at $38.97 using an online brokerage with a $9.95 flat fee, would you have
Made or lost money? How much?

• A)a. $23,234.04; b. lost $138.01
• B)a. $23,004.00; b. made $378.00
• C)a. $23,004.00; b. lost $378.00
• D)a. $23,234.04; b. made $138.01

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Definitions:

Carboniferous Period

A geologic period and system that spans from about 358.9 to 298.9 million years ago, known for its extensive coal deposits formed from ancient forests.

Tiktaalik

An extinct genus of fish-like tetrapods that represents an early step in the transition from water- to land-living animals.

Vertebrates

Animals that have a backbone or spinal column, including mammals, birds, reptiles, amphibians, and fish.

Polymerization

A chemical process that combines small molecules (monomers) into a larger compound (polymer) with repeating structural units.