Answer:
$20,650.00
Explanation:
In the equity market, when shares are being bought there are usually bids submitted that will determine the buying price, so bid price is the price at which a share is bought. In this case it is $103.25.
When selling shares the price at which it is sold is the ask price.
Therefore the price for buying the IBM shares= Bid price* Quantity
= 103.25 * 200= $20,650
Answer:
c. $20,660.00
Explanation:
The current bid and ask quotes are quotes on a single share of stock. The bid price is the price at which buyers are willing to buy a stock while the ask price is the price sellers are willing to sell a stock.
If you would like to buy shares of International Business Machines (IBM), you will do so at the ask price;
Hence cost of shares
= 200 × $103.30
= $20,660
