To determine the return we need to first determine how much was spent on the stocks. We have 40 stocks, each bought for 15, so we need to multiply the total number of stocks by the price of each:
[tex]Price=40\cdot15=600[/tex]The return on the stocks is the price for which they were sold minus the price for which they were bought minus the commission.
[tex]\text{ Return =}690-600-6=84[/tex]The total return was $84, now we need to calculate the percentage. To do that we have to divide the return by the price and multiply it by 100.
[tex]\text{ Rate of return = }\frac{84}{600}\cdot100=14\text{ \%}[/tex]The rate of return on these stocks is 14%.
