On October 12, Kevin Placed a Day Order to Purchase

question 63

Multiple Choice

On October 12, Kevin placed a day order to purchase 100 shares of ABC stock at $21 a share.During the day, the stock sold at prices ranging from $21.01 to $22.49.Over the following month the stock sold in a range of $21.60 to $23.05.On December 2, the market declined radically and the price of ABC stock dropped to $19.94.Which one of the following statements is correct concerning Allen's order?

• A)The order was never executed.
• B)The order was executed at $21.01 per share.
• C)The order was executed at $22.49.
• D)The order was executed at $19.94.

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Definitions:

Compounded Annually

Interest on an investment is calculated once a year and added to the principle, increasing the amount the interest is calculated on the following year.

Scholarships

Financial aid awards given to students to support their education, typically based on academic achievement, talent, or other criteria.

Compounded Quarterly

The calculation of interest on both the initial principal and accumulated interest over three-month intervals.

Perpetual Payments

Financial payments that continue indefinitely without an end date, often seen in perpetuities or certain types of bonds.