an investor purchased 70 shares of stock in a...
an investor purchased 70 shares of stock in a company for $2,660, with an $8 commission. later, all of the stock was sold at $43 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:
$342$
# Explanation:
## Step1: Calculate total selling - price
The investor sold 70 shares at $43$ per share. So the selling - price is $70\times43 = 3010$ dollars.
## Step2: Calculate total cost
The cost of purchasing 70 shares is $2660$ dollars with an $8$ - dollar commission. So the total cost is $2660 + 8=2668$ dollars.
## Step3: Calculate gain or loss
Gain or loss = Selling price−Cost price. So, $3010−2668 = 342$ dollars. Since the result is positive, it is a gain of $342$ dollars.