Question

Nancy Billows bought 150 shares of NBC Universal stock at $22.885 per share. Her broker charged her $22.05 for the brokerage commission. What is the average cost per share (include brokerage fee) to the nearest cent?

Answer 1

The simple way to figure this out is to expand everything and write it out.

Answer 2

\[\frac{ 150*22.885+22.05 }{ 150 }\]

Answer 3

Then if you simplify and solve you'll get: 23.032 and since you can't have that and need to round to the nearest cent you would change it to $23.03 since 2 rounds down.

Answer 4

Thanks

Answer 5

No problem love. <3 :)