an investor purchased 60 shares of stock in a...
an investor purchased 60 shares of stock in a company for $2,340, with an $8 commission. later, all of the stock was sold at $44 per share. what was the gain or loss on this investment? gain or loss = $? enter a gain as positive and a loss as negative.
Answer
# Answer:
$292$
# Explanation:
## Step1: Calculate total selling - price
The number of shares is $60$ and the selling - price per share is $\$44$. So the total selling - price is $60\times44 = 2640$ dollars.
## Step2: Calculate total cost
The investor paid $\$2340$ for the shares and $\$8$ in commission. So the total cost is $2340 + 8=2348$ dollars.
## Step3: Calculate gain or loss
Gain or loss = Total selling - price−Total cost. So, $2640−2348 = 292$ dollars. Since the result is positive, it is a gain of $\$292$.