SOLUTION: Mary Kim invested $964 in 18 shares of stock. A month later, she sold the 18 shares at $61.48 per share. She also invested in 350 shares of stock for a total of $27,422.50. She

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Mary Kim invested $964 in 18 shares of stock. A month later, she sold the 18 shares at $61.48 per share. She also invested in 350 shares of stock for a total of $27,422.50. She       Log On

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Question 361935: Mary Kim invested $964 in 18 shares of stock. A month
later, she sold the 18 shares at $61.48 per share. She also
invested in 350 shares of stock for a total of $27,422.50.
She sold this stock for $85.35 a share and paid $495 in
total commissions. What was Mary Kim’s profit or loss
on the transactions to the nearest dollar?
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!


Hi, 

Profit earned for each transaction

18*61.48 - 964 = 142.64 total profit

350*85.35 - 27422.50= 2450 total profit



Total profit:

2450.00 + 142.64 - 495.00 = $2097.64