Answered

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Alex buys 30 shares of Walmart at the close price if $48.80. His broker charges him 3% of each share. How much did Alex spend in total to buy this stock?

Sagot :

Alex spend $1507.92 in total to buy this stock at 3% charges on each shares.

What is shares?

Shares represent equity ownership in a corporation or financial asset, owned by investors who exchange capital in return for these units.

Alex buys 30 shares of Walmart at the close price of $48.80.

His broker charges him 3% of each share.

Purchasing of 30 shares =48.80 *30

                                         =$1464

Now we have to find the 3% of total purchasing of shares.

So,

Broker's fees =[tex]\frac{3}{100}*1464[/tex]

                      = 0.03 * 1464

                      = 43.92

So, total cost of stock= 1464+43.92

                                   = 1507.92

Hence, Alex spend $1507.92 in total to buy this stock.

Learn more about shares here:

https://brainly.com/question/2120956

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