jared had a portfolio worth $200,000. he made 12 automated telephone trades during the past year, buying and…

jared had a portfolio worth $200,000. he made 12 automated telephone trades during the past year, buying and selling $20,000 worth of stock through ccsd brokerage. what was his total broker fee for the year? ccsd brokerage fee schedule online trades automated telephone trades trades using a broker portfolio value less than $250,000 $15 per trade online fee plus $10.50 0.5% commission plus online fee portfolio value greater than $250,000 $12 per trade online fee plus $10.50 0.4% commission plus online fee

jared had a portfolio worth $200,000. he made 12 automated telephone trades during the past year, buying and selling $20,000 worth of stock through ccsd brokerage. what was his total broker fee for the year? ccsd brokerage fee schedule online trades automated telephone trades trades using a broker portfolio value less than $250,000 $15 per trade online fee plus $10.50 0.5% commission plus online fee portfolio value greater than $250,000 $12 per trade online fee plus $10.50 0.4% commission plus online fee

Answer

Explanation:

Step1: Identify the applicable fee - schedule

Jared's portfolio value is $200,000 which is less than $250,000. For automated telephone trades with a portfolio value less than $250,000, the fee is the online fee plus $10.50. The online fee for a portfolio value less than $250,000 is $15 per trade. So the total fee per automated telephone trade is $15 + $10.50.

Step2: Calculate the total fee per trade

$15+ 10.50=$25.50$

Step3: Calculate the total broker - fee for the year

Jared made 12 automated telephone trades. So the total broker - fee is the fee per trade times the number of trades. $25.50\times12$. $25.50\times12 = 306$

Answer:

$306$