Answer:
1. Cost of stock = $ 18,900
2. Total paid = $ 18,960
Step-by-step explanation:
1. Let's review the information provided to us to answer the questions correctly:
Number of GTI petroleum shares purchased by Enice = 3,000
Cost per share = $ 6.30
Broker's commission was $19.95 for fewer than 1,000 shares or $0.02 per share for 1,000 or more
2. What was the cost of the stock? What was the total paid?
Let's calculate the cost of the stock, this way:
Cost of stock = 3,000 * 6.30
Cost of stock = $ 18,900
Cost of brokers' commission = 3,000 * 0.02
Cost of brokers' commission = $ 60
Total paid = Cost of stock + Cost of broker's commission
Total paid = 18,900 + 60
Total paid = $ 18,960
