Question

Connor bought 30 shares of eBay at $20.95. A year later, he bought 20 more shares at $26.75. He later sold all of his shares at the price of $35.25. Connor's broker charges him 3% of each share as a transaction fee. After all of his transactions, how much money did Connor make?A. $515.53B. $493.37C. $525.11D. $511.21

Answer 1

30 shares at 20.95
so he first spends $(30*20.95)

he buys 20 shares at 26.75 later
so he spends $(20*26.75)

so in total, he has 50 shares and has spent $(20*26.75)+$(30*20.95)


he decides to sell all his shares at 35.25
so he gains 50*35.25

Answer 2

Like I get it all the way down to the end like im always 100 off

Answer 3

im going to assume transaction fee applies to both buying and selling

30 shares at 20.95
so he first spends $(30*20.95)
3% transaction fee so he has to pay an extra 3%
so his first transaction he spends (1.03)*(30*20.95)

2nd transaction
he buys 20 shares at 26.75 later
so he spends $(20*26.75)
he still needs to pay an extra 3%
so his 2nd transaction, he spends (1.03)*(20*26.75)

3rd transaction
he sells all 50 shares at 35.25
so he gains 50*35.25

but has to pay 3% still
so he gains (.97)*(50*35.25)


so take the 3rd transaction and subtract the 1st and 2nd transaction, and you should get the total amount of money he made

Answer 4

thank you