1.7b Assignment

Meg purchased $25,000 worth of stock and paid her broker a 1% commission.  She sold the stock when it was $27,500 using a discount broker that charges $10 per trade. Compute her net proceeds.

• $2,240

• $2,500

• $2,200

• $2,350

Mina purchased $30,000 worth of stock and paid her broker a 1% commission.  She sold the stock when it was $34,000 using a discount broker that charges $15 per trade. Compute her net proceeds.

• $3,685

• $3,400

• $3,985

• $3,785

Millie purchased $32,000 worth of stock and paid her broker a 1% commission.  She sold the stock when it was $37,000 using a discount broker that charges $7 per trade. Compute her net proceeds.

• $4,673

• $4,500

• $4,900

• $4,600

Jan purchased  $25,000 worth of stock and paid her broker a 1% commission.  She sold the stock when it was $22,000 and paid her broker a 1.5% commission. Compute her net proceeds.

• -$3,580

• -$3,250

• -$3,000

• -$2,750

Jess purchased  $30,000 worth of stock and paid her broker a 1% commission.  She sold the stock when it was $24,000 and paid her broker a 1.5% commission. Compute her net proceeds.

• -$6,660

• -$5,640

• -$7,000

• -$6,000

Jen purchased $27,000 worth of stock and paid her broker a 1% commission.  She sold the stock when it was $23,000 and paid her broker a 1.5% commission. Compute her net proceeds.

• -$4,615

• -$3,850

• -$5,000

• -$4,250

Kelly purchased $32,000 worth of stock and paid her broker a 1.5% commission.  She sold the stock when it was $35,000 and paid her broker a 0.5% commission. Compute her net proceeds.

• $2,345

• $2,100

• $2,500

• $2,000

Sonia bought $12,500 worth of stock and paid her broker a 0.5% commission. How much was the commission on the purchase?

• $62.50

• $125.00

• $50.00

• $75.00

Sonia bought $8,500 worth of stock and paid her broker a 0.5% commission. How much was the commission on the purchase?

• $42.50

• $85.00

• $17.00

• $425.00

Sonia bought $7,200 worth of stock and paid her broker a 0.5% commission. How much was the commission on the purchase?

• $36

• $72

• $18

• $54