Question

Stephen bought 85 shares of United Rotators at $6. 34 each, 110 shares of Dowc Beverage Co. At $13. 13 apiece, and 133 shares of Esti Transport at $7. 10 each. If Stephen’s broker collects a commission of $12. 50 for every ten shares bought or sold, how much did Stephen spend in total, to the nearest dollar? a. $2,972 b. $3,338 c. $6,688 d. $2,438.

Answer 1

The total spend of Stephen in acquiring the ten shares or selling the ten shares of the company is $3338.

Computation of the total spend by Stephen:

$\begin{aligned}\text{Stephen bought shares of united rotators worth} = 85 \times \ 6.34 = \ 538.9\end{aligned}$

$\begin{aligned}\text{Stephen bought shares of down beverages worth} = 110 \times \ 13.13 = \ 1444.3\end{aligned}$

$\text{Stephen bought shares of esti transport worth} = 133 \times \ 7.10 = \ 944.3\end{aligned}$

$\begin{aligned}\text{Commission collected by Stephen's broker} &= \text{every 10th shares} x\times\ 12.50\\\text{Commission collected by Stephen's broker} &=\frac{328}{10} \times \ 12.50\\\text{Commission collected by Stephen's broker}&=32.8 \times \ 12.50\\\text{Commission collected by Stephen's broker}&= \ 410\end{aligned}$

The total spending of Stephen can be calculated by adding all the purchased shares and the commission collected by Stephens.

$\begin{aligned}\text{Total spending of Stephens} = \ 538.9+\ 1444.3+\ 944.3+\ 410\end{aligned}\\\text{Total spending of Stephens} =\ 3337.5$

Therefore, the total amount of spending can be taken as approx $ 3338.

The correct option is b.

To know more about the  computation of the total spending, refer to the link below:

https://brainly.com/question/10318163