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12 August, 07:00

Kwikset Enterprises sold 300 shares of stock at $12.34 per share. The underwriting commission was 5.8%. To the nearest cent, how much did Kwikset Enterprises make on its sale of stock, after subtracting the underwriting commission?

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  1. 12 August, 07:48
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    Kwikset has 300 shares in the stock. He sold it for 12.34 dollars per share:

    So:

    => 300 * 12.43 dollars = 3702 dollars is the total money that she get after selling the stocks.

    Now, it will be deducted by 5.8% commission.

    => 3702 *.058 = 214.716

    => 3702 - 214.716 = 3487.284 dollars

    or - 3487.28 dollars.
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