You purchase 240 shares of stock at $37.60 per share. Several months later you sell the shares at $33.10. Your broker charges 2% commission on round lots and 3% on odd lots. Calculate the gain or loss (in $) on the transaction.
You purchase 240 shares of stock at $37.60 per share. Several months later you sell the shares at $33.10. Your broker charges 2% commission on round lots and 3% on odd lots. Calculate the gain or loss (in $) on the transaction.
Chapter2: The Domestic And International Financial Marketplace
Section: Chapter Questions
Problem 2P
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You purchase 240 shares of stock at $37.60 per share. Several months later you sell the shares at $33.10. Your broker charges 2% commission on round lots and 3% on odd lots.
Calculate the gain or loss (in $) on the transaction.
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