an investor purchased 70 shares of stock in a...
an investor purchased 70 shares of stock in a company for $4,760, with an $8 commission. later, all of the stock was sold at $71 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:
$122
# Explanation:
## Step1: Calculate total selling - price
The number of shares is 70 and the selling - price per share is $71. So the total selling - price is $70\times71 = 4970$.
## Step2: Calculate total cost
The cost of purchasing the shares is $4760 and the commission is $8. So the total cost is $4760 + 8=4768$.
## Step3: Calculate gain or loss
Gain or loss=Total selling - price−Total cost. So, $4970−4768 = 122$.