Answered

At Westonci.ca, we connect you with experts who provide detailed answers to your most pressing questions. Start exploring now! Explore a wealth of knowledge from professionals across different disciplines on our comprehensive platform. Our platform offers a seamless experience for finding reliable answers from a network of knowledgeable professionals.

A stockbroker earns a commission by a flat fee for each transaction as well as a fee per share. On a particular transaction, the stockbroker sold 5,000 shares to a client at a rate of $0.01 per share. The cost of the transaction totaled $57.50. Which of the following equations describes the cost of this transaction in terms of shares sold?
A.y = 0.01x
B.y = 0.01x + 7.5
C.y = 0.01x + 4,999.425
D.y = 0.01x + 5,000

Sagot :

Ryan2
Clearly, alternative B

y = 0.01x + 7.5
y = (0.01)*5000 + 7,5
y = 50 + 7.5
y = 57.50

Answer:

Option B. y = .01x + 7.5

Step-by-step explanation:

If a stock broker earns a commission by a flat fee for each transaction as well as a fee per share.

Let the commission on each share charged by the stock broker is x.

Selling price of 5000 shares + total fees of broker = Cost of the transaction

5000×.01 + Fees = 57.50

Fees = 57.50 - 50 = $7.50

Now we can form the equation which represents the cost of this transaction  as

y = .01x + 7.5

Therefore option B is the correct answer.

We appreciate your time. Please revisit us for more reliable answers to any questions you may have. Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Your questions are important to us at Westonci.ca. Visit again for expert answers and reliable information.