Phil bought 700 shares of a company's stock for $9.29/share. He pays a broker a commission of $18 to buy and sell stock. After one year, he sold all his shares, which were worth $9.90/share at that time.

a) 6.0%

b) 6.2%

c) 6.5%

d) 6.8%

Question

Mathematics

Alijah Brady

15 November, 09:49

Phil bought 700 shares of a company's stock for $9.29/share. He pays a broker a commission of $18 to buy and sell stock. After one year, he sold all his shares, which were worth $9.90/share at that time.

a) 6.0%

b) 6.2%

c) 6.5%

d) 6.8%

+4

Answers (1)

Know the Answer?

Aria Ellison · Answer 1

It seems that you are looking for the yield of the shares of stocks after they were sold.

To solve,

yield = (current total amount - previous total amount) / previous amountwherecurrent amount = $9.9/share*700share + $18previous=$9.29/share*700 share

yield=[ (9.9*700) + 18] - (9.29*700) / (9.29*700) x 100

yield = 6.8%

Shares of stocks yield = 6.8%

Phil bought 700 shares of a company's stock for $9.29/share. He pays a broker a commission of $18 to buy and sell stock. After one year, he sold all his shares, which were worth $9.90/share at that time.a) 6.0%b) 6.2%c) 6.5%d) 6.8%

Phil bought 700 shares of a company's stock for $9.29/share. He pays a broker a commission of $18 to buy and sell stock. After one year, he sold all his shares, which were worth $9.90/share at that time.

a) 6.0%

b) 6.2%

c) 6.5%

d) 6.8%