Your discount brokerage firm charges $8.60 per stock trade. How much money do yo

Question

Your discount brokerage firm charges $8.60 per stock trade. How much money do you need to buy 300 shares of Pfizer, Inc. (PFE), which trades at $38.22? (Round your answer to 2 decimal places.) Your discount brokerage firm charges $8.60 per stock trade. How much money do you need to buy 300 shares of Pfizer, Inc. (PFE), which trades at $38.22? (Round your answer to 2 decimal places.) Your discount brokerage firm charges $8.60 per stock trade. How much money do you need to buy 300 shares of Pfizer, Inc. (PFE), which trades at $38.22? (Round your answer to 2 decimal places.)

Explanation / Answer

Money required to buy 300 shares of Pfizer Inc. = (No.of shares to be purchased*Price per share)+Brokerage per trade Money required to buy 300 shares of Pfizer Inc. = (300 shares*$38.22)+$8.60 Money required to buy 300 shares of Pfizer Inc. = $11,474.60

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