Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

BROKERAGE FEES Minimum Commission Rates for Brokers: Per 100 Shares Minimum Commission Money involved in order $100 but under $800 $800 but under $2500 2.0%

image text in transcribed

BROKERAGE FEES Minimum Commission Rates for Brokers: Per 100 Shares Minimum Commission Money involved in order $100 but under $800 $800 but under $2500 2.0% plus $6.40 1.3% plus $12.00 0.9% plus $22.00 $2500 and above Using the broker fee table from above, calculate the following: 1. Khalid had his stockbroker buy 400 shares of Amazon at 1090.70 a) What is the Broker's fee? b) What is the total cost of the shares, including the brokers fee? 2. Fatma had her stockbroker buy 200 shares of Apple at 122.40 a) What is the Broker's fee? b) What is the total cost of the shares, including the brokers fee? 3. Abdullah sold 600 shares of H&M through his broker. He sold the shares for $120.75. After brokerage fees were deducted (subtracted)... What was the net proceeds? BROKERAGE FEES Minimum Commission Rates for Brokers: Per 100 Shares Minimum Commission Money involved in order $100 but under $800 $800 but under $2500 2.0% plus $6.40 1.3% plus $12.00 0.9% plus $22.00 $2500 and above Using the broker fee table from above, calculate the following: 1. Khalid had his stockbroker buy 400 shares of Amazon at 1090.70 a) What is the Broker's fee? b) What is the total cost of the shares, including the brokers fee? 2. Fatma had her stockbroker buy 200 shares of Apple at 122.40 a) What is the Broker's fee? b) What is the total cost of the shares, including the brokers fee? 3. Abdullah sold 600 shares of H&M through his broker. He sold the shares for $120.75. After brokerage fees were deducted (subtracted)... What was the net proceeds

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Finance questions

Question

Have to Do: Monitor the plan.

Answered: 1 week ago

Question

Have to Do: Embed the mission in the work.

Answered: 1 week ago