25 shares of stock were purchased for $40 per share with a $6 commission. what is the total cost of this…

25 shares of stock were purchased for $40 per share with a $6 commission. what is the total cost of this investment? total cost = $? total cost = number of shares · price per share + commission

25 shares of stock were purchased for $40 per share with a $6 commission. what is the total cost of this investment? total cost = $? total cost = number of shares · price per share + commission

Answer

Explanation:

Step1: Calculate the cost of shares

The number of shares is (25), and the price per share is ($40). So the cost of shares is (25\times40). [25\times40 = 1000]

Step2: Add the commission

The commission is ($6). So the total cost is the cost of shares plus the commission, i.e., (1000 + 6). [1000+6=1006]

Answer:

(1006)