Lance bought 120 shares of stock at 25.28 per share. Several months later he sold the stock at 24.70 per share. His broker charges 3 commission for round lots and 4 for odd lots. Calculate the gain or loss on the transaction. (Show loss in parentheses)
A) 3,139.66
B) 3,033.60
C) 259.52
D) (259.52)
Q. 2The owner of a hot dog stand receives a loan of 3,750 at 8.25 for 9 months. Find the amount of simple interest.(Round to the nearest cent)
A) 320.63
B) 232.03
C) 489.65
D) 232.00
Q. 3Lakeesha bought 300 shares of stock at 48.25 per share. Her broker charges 3 commission for round lots and 4 for odd lots. Calculate the total cost of the stock purchase.
A) 15,025.63
B) 14,909.25
C) 13,820.00
D) 25,115.88
Q. 4What is the effective interest rate of a simple discount note for 2,700 at a bank discount rate of 12.25, for 36 months? (Round to the nearest tenth percent)
A) 19.0
B) 22.0
C) 19.4
D) 14.1
Q. 5Shaylash bought 250 shares of stock at 31.38 per share. Several months later he sold the stock at 45.65 per share. His broker charges 4 commission for round lots and 5 for odd lots. Calculate the gain or loss on the transaction. (Show loss in parentheses)
A) 10,933.19
B) 8,174.49
C) 2,758.69
D) (2,758.69)
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