Question
Minimum Commission Rates for Brokers: Per 100 Shares Money involved in order Minimum Commission $100 but under $800 2.0% plus $6.40 $800 but under $2500
Minimum Commission Rates for Brokers: Per 100 Shares
| Money involved in order | Minimum Commission |
| $100 but under $800 | 2.0% plus $6.40 |
| $800 but under $2500 | 1.3% plus $12.00 |
| $2500 and above | 0.9% plus $22.00 |
Using the broker fee table from above, calculate the following:
-
Zaid had his stockbroker buy 200 shares of BMW at 90.70
a) What is the Brokers fee?
b) What is the total cost of the shares, including the brokers fee?
-
Sultan had his stockbroker buy 400 shares of Ferrari at 126.20
a) What is the Brokers fee?
b) What is the total cost of the shares, including the brokers fee?
-
Mariam had her stockbroker buy 500 shares of Amazon at 1637.42
a) What is the Brokers fee?
b) What is the total cost of the shares, including the brokers fee?
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Financial Markets and Institutions
Authors: Jeff Madura
12th edition
9781337515535, 1337099740, 1337515531, 978-1337099745
