Rick Mendez bought stock for $5,000, using $2,500 of his own money and $2,500 borrowed from the broker. One month later,
3 answers
Question:
Rick Mendez bought stock for $5,000, using $2,500 of his own money and $2,500 borrowed from the broker. One month later, the stock is sold for $5,650. Interest owed to the broker is $30; brokerage commissions to buy and sell the stock totaled $300. Rates of return: %
Answers
12.8%
Step-by-step explanation:
Rate of Return = Profit / Amount spent.
Profit = Selling price - Cost price - Interest - Brokerage commission
= 5,650 - 5,000 - 30 - 300
= $320
Amount spent was $2,500 because this is the amount he spent of his own money.
Return = 320 /2,500
= 0.128
= 12.8%
50*10 is greater
step-by-step explanation:
if you add the zero from 10 to 50, it will give you a bigger number.
loloo
step-by-step explanation:
lololool
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