You have just bought 100 shares of ABC Corporation common stock at 70.50. The co

Question

You have just bought 100 shares of ABC Corporation common stock at 70.50. The commission is calculated as 1.5% of the total value of the transaction plus $30. What commission will you be charged and how much must you pay the broker for the entire transaction?

Julie's employer has a defined benefits retirement plan which pays 3.2 percent of her last year's salary for each year of employment. Julie estimates her final salary will be $85,000 and she will have worked for 20 years. What is her expected retirement benefit?

Explanation / Answer

commission = 1.5%*100*70.50+30 =$135.75 Total amount = 135.75+100*70.50 = $7,185.75 expected retirement benefit =3.2%*$85,000*20 = $54,400.00

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