Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I was able to get the Ask Price as $311. The purchase price = 31130-(100*0.5)= 31100 --> 31100/100 shares = $311 ASK I'm not sure

I was able to get the Ask Price as $311.

The purchase price = 31130-(100*0.5)= 31100 --> 31100/100 shares = $311 ASK

I'm not sure what to do after given the total transaction cost = $243image text in transcribed

4. Alex buys 100 shares of the stock of Apple at the same time that Neil sells 100 shares of the stock of Apple. The commission on Alex's purchase is 0.50 per share while the commission on Neil's sale is 0.3% of the price. Alex pays 31,150 to purchase his 100 shares. The total transaction costs incurred by both Alex and Neil are 243.00 Calculate the Bid Price for one share of Apple

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Finance questions