Giovanni bought 30 shares of Stock XYZ at the close price of $6.31. He

bought 30 more shares a year later at the price of $9.09. If his broker charges

$16 for each transaction how much money did Giovanni spend in total to

make these purchases?

Use the explantion to answer your question

Step-by-step explanation:

Amount he paid for first 20 shares

= $25 + (20 x $10.51)

= $25 + $210.20

= $235.20

Amount he paid for next 20 shares

= $25 + (20 x $8.93)

= $25 + $178.60

= $203.60

Thus, total amount paid

= $235.20 + $203.60

= $438.80