McKenzie buys 250 shares of stock for $12 a share and pays a 2% commision. She sells the stock 3 years later for $18 a share and pays 1% commission. What are her net proceeds?
Accepted Solution
A:
250 shares for $ 12 per share......250 * 12 = 3000 plus the 2% commission......3000(1.02) = 3060...so the commission is $ 60
she then sells her stock (250 shares) for $ 18 a share.... 250 * 18 = 4500 plus the 1% commission....4500(1.01) = 4545...so the commission is $ 45
net proceeds is the amount received by the seller after all costs and expenses are deducted...