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5 June, 13:09

You would like to buy shares of Nokia (NOK). The current bid and ask quotes are $20.13 and $20.15, respectively. You place a market buy-order for 300 shares that executes at these quoted prices. How much money did it cost to buy these shares?

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  1. 5 June, 15:31
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    total cost = $6,045

    Explanation:

    given data

    current bid = $20.13

    ask quotes = $20.15

    market buy-order = 300 shares

    solution

    as here Total Cost to buy 300 NOK shares is express as

    Total Cost = Cost per share * Number of shares ... 1

    as here

    Bid quotes is rate at which an asset can be bought or sold in market

    so that market will buy asset

    and quote of $20.15 per share will be the purchase price.

    so put value in equation 1 we get

    Total Cost = 20.15 * 300

    total cost = $6,045
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Home » Business » You would like to buy shares of Nokia (NOK). The current bid and ask quotes are $20.13 and $20.15, respectively. You place a market buy-order for 300 shares that executes at these quoted prices. How much money did it cost to buy these shares?
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