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Joe's broker's fee schedule is given in the table. Joe's current portfolio is worth $50,000. He wants to purchase 50 shares of a company's
stock for a purchase price of $15 per share.
Joe will need to pay a commission of
. The total amount charged by the broker will be
Part one answers $7.50, $5.00,$1.50
Part two answers $17.50,$15.50,$15.00

Joes Brokers Fee Schedule Is Given In The Table Joes Current Portfolio Is Worth 50000 He Wants To Purchase 50 Shares Of A Companys Stock For A Purchase Price Of class=

Sagot :

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Answer:

Joe Will need to pay a commission of [$7.50]. The Total amount Charged by the broker will be [$17.50]

Step-by-step explanation:

Joe will need to pay a commission of [tex]\$7.50[/tex] and Total amount charged by broker will be [tex]\$17.50[/tex].

What is commission ?

Commission is a form of money pay as remuneration for services rendered or products sold.

A.

We have,

Joe's current portfolio  [tex]=\$ 50,000[/tex]

Price of one stock [tex]=\$15[/tex]

So,

As his portfolio is less than [tex]\$100,000[/tex], he have to pay [tex]15\%[/tex] and [tex]\$10[/tex] trade fee,

So,

Price of [tex]50[/tex] shares [tex]=50*15=\$750[/tex]

Commission charge [tex]=1\%\ of\ 750[/tex]

                                  [tex]=\$7.5[/tex]

So, commission of [tex]\$7.5[/tex] will be paid.

B.

So,

Total amount charged by Broker [tex]=10+7.5=\$17.5[/tex]

Hence, we can say that Joe will need to pay a commission of [tex]\$7.50[/tex] and Total amount charged by broker will be [tex]\$17.50[/tex].  .

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