an investor purchased 60 shares of stock in a company for $2,940, with an $8 commission. later, all of the…

an investor purchased 60 shares of stock in a company for $2,940, 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.

an investor purchased 60 shares of stock in a company for $2,940, 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

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 $51\times60 = 3060$.

Step2: Calculate total cost

The cost of purchasing the shares is $2940 and the commission is $8. So the total cost is $2940 + 8=2948$.

Step3: Calculate gain or loss

Gain or loss = Total selling - price−Total cost. So, $3060−2948 = 112$.

Answer:

112