SOLUTION: What is the brokerage fee for 75 shares of stock at 13 1/2 per share, if the rate of commission for odd lots is $39 + 2% of the amount over $1,000? A. $39.25 B. $37.00 C. $13.

Algebra ->  Finance -> SOLUTION: What is the brokerage fee for 75 shares of stock at 13 1/2 per share, if the rate of commission for odd lots is $39 + 2% of the amount over $1,000? A. $39.25 B. $37.00 C. $13.      Log On


   

Question 1197431: What is the brokerage fee for 75 shares of stock at 13 1/2 per share, if the rate of commission for odd lots is $39 + 2% of the amount over $1,000?
A. $39.25
B. $37.00
C. $13.50
D. $39.00
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!

Hi 
 75 shares of stock at 13 1/2 per share = $1012.50 

rate of commission for odd lots is $39 + 2% of the amount over $1,000?
  $39 + .02(12.50) = $39.25
Wish You the Best in your Studies.