an investor purchased 60 shares of stock in a...
an investor purchased 60 shares of stock in a company for $2,640, with an $8 commission. later, all of the stock was sold at $51 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:
$412$
# Explanation:
## Step1: Calculate total selling - price
The number of shares is 60 and the selling - price per share is $51$. So the total selling - price is $60\times51 = 3060$ dollars.
## Step2: Calculate total cost
The cost of purchasing the shares is $2640$ and the commission is $8$ dollars. So the total cost is $2640 + 8=2648$ dollars.
## Step3: Calculate gain or loss
Gain or loss = Total selling - price−Total cost. So, $3060−2648 = 412$ dollars. Since the result is positive, it is a gain of $412$ dollars.