an investor purchased 60 shares of stock in a...
an investor purchased 60 shares of stock in a company for $2,820, with an $8 commission. later, all of the stock was sold at $45 per share. what was the gain or loss on this investment? gain or loss = $?
Answer
# Answer:
-528
# Explanation:
## Step1: Calculate total selling - price
The number of shares is 60 and the selling - price per share is $45. So the total selling - price is $45\times60 = 2700$.
## Step2: Calculate total cost
The cost of purchasing the stock is $2820$ and the commission is $8$. So the total cost is $2820 + 8=2828$.
## Step3: Calculate gain or loss
Gain or loss=Selling - price−Cost. Substitute the values: $2700−2828=- 528$. So there is a loss of $528$.