Mary Kim invested $933 in 17 shares of stock. A month later, she sold the 17 shares at $55.19 per share. She also invested in 350 shares of stock for a total of $24 comma 923.50. She sold this stock for $77.59 a share and paid $335 in total commissions. What was Mary Kim's profit or loss on the transactions to the nearest dollar?
Answers
Given : Mary Kim invested $933 in 17 shares of stock. A month later, she sold the 17 shares at $55.19 per share. She also invested in 350 shares of stock for a total of $24 comma 923.50. She sold this stock for $77.59 a share and paid $335 in total commissions.
To find : What was Mary Kim's profit or loss on the transactions to the nearest dollar
Step-by-step explanation:
Mary Kim invested $933 in 17 shares of stock
Sold 17 Shares at $55.19 per share
Selling Price = 17 * 55.19 = 938.23 $
invested in 350 shares of stock for a total of $24,923.50
Sold stock for $77.59 a share and commission = $335
Selling Price = 350 * 77.59 - 335
= 26821.5 $
Total Investment = 933 + 24923.5 = 25856.5$
Total Received = 938.23 + 26821.5 = 27759.73 $
Profit = 27759.73 - 25856.5
= 1903.23 $
= 1903 $
Kim's profit on the transactions to the nearest dollar = 1903
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