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Lenny bought x shares of stock for Sy per share last month. He paid
his broker a flat fee of $20. He sold the stock this month for Sp per
share, and paid his broker a 2% commission. Express Lenny's net
proceeds algebraically.

Sagot :

Lenny's net proceeds algebraically are found as;[tex]\rm |xy + 20 - \frac{98}{100} |[/tex]

What is the equation?

A mathematical statement consisting of an equal symbol between two algebraic expressions with the same value is known as an equation.

Let the bought share will be $ x, and $y is the price per share

Paid fees to the broker = $ 20

The total amount spent = $(xy+20)

The price at which each share sells = $ A

Broker commission = 2 %

The total amount obtained after selling the shares;

⇒ ax - 2% of ax

⇒ 98 % of ax

Hence, Lenny's net proceeds algebraically are found as;[tex]\rm |xy + 20 - \frac{98}{100} |[/tex]

To learn more, about equations, refer;

https://brainly.com/question/10413253

#SPJ1

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