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Question 1056060: Susan bought 600 shares of stock at a price of $21.77 per share. She must pay the stock broker a 2 percent commission for the transaction.
What is the minimal price for the stocks she would need to make a profit if she were to sell the stocks? (Assume she will not pay a commission when she sells the stock.)
How do I solve this?
Found 3 solutions by Boreal, stanbon, MathTherapy:
Answer by Boreal(15235)   (Show Source):
You can put this solution on YOUR website! 600 shares @ $21.77=$13062.
2% of $13062 is their product, or $261.24
The cost is $13261.24
Selling them, she needs to make a minimal profit, which would be 1 cent. That is just above break-even.
$13621.25/600=$22.702 or $22.71
If we round down, the proceeds are $13620, so we need to round up, where the proceeds will be $13,626.
Answer by stanbon(75887)  (Show Source):
You can put this solution on YOUR website! Susan bought 600 shares of stock at a price of $21.77 per share. She must pay the stock broker a 2 percent commission for the transaction.
What is the minimal price for the stocks she would need to make a profit if she were to sell the stocks? (Assume she will not pay a commission when she sells the stock.)
How do I solve this?
Cost before commission:: 21.77
Cost including 2% commission:: 1.02*21.77 = $22.21
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Minimal price to make a profit:: price > 22.21 per share
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Cheers,
Stan H.
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Answer by MathTherapy(10552)  (Show Source):
You can put this solution on YOUR website!
Susan bought 600 shares of stock at a price of $21.77 per share. She must pay the stock broker a 2 percent commission for the transaction.
What is the minimal price for the stocks she would need to make a profit if she were to sell the stocks? (Assume she will not pay a commission when she sells the stock.)
How do I solve this?
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