SOLUTION: Joseph sold five $1,000 bonds, each having a quoted price of 101 3/4. The broker charged a 2% brokerage fee. What was the total amount Joseph received?
A. $5,087.50
B. $4,985.7
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-> SOLUTION: Joseph sold five $1,000 bonds, each having a quoted price of 101 3/4. The broker charged a 2% brokerage fee. What was the total amount Joseph received?
A. $5,087.50
B. $4,985.7
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Question 1197522: Joseph sold five $1,000 bonds, each having a quoted price of 101 3/4. The broker charged a 2% brokerage fee. What was the total amount Joseph received?
A. $5,087.50
B. $4,985.75
C. $1,017.50
D. $5,189.25
Would D. be the correct answer? Answer by ewatrrr(24785) (Show Source):
You can put this solution on YOUR website! 101 3/4 is 101.75
101.75 x10 = 1017.50
1017.50 x 5 = 5087.50
5087.50 - .02x5087.50 = $4985.75
B. Your answer
Joseph Lost money on the trade.
