Your broker charges a commission of 5.1% of the cost of the stock you sell. If you sell a batch of stocks worth $2,617.75, how much commission will you owe your broker? a. $133.51 b. $513.28 c. $110.56 d. $392.66

Question

Mathematics

Maryjane Conley

14 June, 14:37

Your broker charges a commission of 5.1% of the cost of the stock you sell. If you sell a batch of stocks worth $2,617.75, how much commission will you owe your broker? a. $133.51 b. $513.28 c. $110.56 d. $392.66

+3

Answers (1)

Know the Answer?

Levi Pittman · Answer 1

Okay. 5.1% of commission is paid to the broker, and you sold stocks worth $2,617.75. To find the value of the stocks, all you have to do is multiply the amount sold by the percent. 2,617.75 * 5.1% (0.051) is 133.50525 or 133.51 when rounded to the nearest hundredth. There. You owe your broker $133.51 in commission. The answer is A.