Question

Three years ago, you purchased 150 shares of IBM stock for $92 a share. Today, you sold your IBM stock for $108 a share. For this problem, ignore commissions that would be charged to buy and sell your IBM shares. Answer the follow questions:

a.What is the amount of profit you earned on each share of IBM stock?
b.What is the total amount of profit for your IBM investment?

Answer 1

The following are the answers to the questions presented:

a. $108 - $92 = $16

b. $16 * 150 = $2400

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