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10 June, 20:53

Your full-service brokerage firm charges $120 per stock trade. How much money do you receive after selling 150 shares of Nokia Corporation (NOK), which trades at $18.63?

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  1. 10 June, 21:54
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    Amount received = $2,674.50

    Explanation:

    Stock brokerage firms are financial institutions that manage a client's assets. They represent a client when they are buying or selling stocks.

    Stock brokers usually charge a fee when performing brokerage services for clients.

    In this case the stock broker charges $120 per stock trade

    Amount received = (Unit price * Number of shares) - Stock broker fee

    Amount received = (18.63*150) - 120

    Amount received = $2,674.50
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