After consulting his broker Sgt..Henry Pepper purchase 600 shares of Octopus,Inc

Question

After consulting his broker Sgt..Henry Pepper purchase 600 shares of Octopus,Inc.stock at $1.31 per share.He also pays $0.84 per shares for 800 of her Majesty Co.stick.His broker charges a fee of $0.005 per share for stocks under $1.00 and fee of 0.6% of the stock principal for all other stocks.What is total cost of Henry's stock investment ,including commission? After consulting his broker Sgt..Henry Pepper purchase 600 shares of Octopus,Inc.stock at $1.31 per share.He also pays $0.84 per shares for 800 of her Majesty Co.stick.His broker charges a fee of $0.005 per share for stocks under $1.00 and fee of 0.6% of the stock principal for all other stocks.What is total cost of Henry's stock investment ,including commission?

Explanation / Answer

Answer: Total cost of Henry's stock investment including commission is $1,466.72

Calculations:

1) Shares in Octopus Inc -

    Price        = 600 * 1.31 = 786.00

    Brokerage = 786*0.006 =     4.72

        Total                           790.72

2) Shares in Majesty Co:

   Price        = 800 * 0.84 = 672.00

   Brokerage = 800*0.005 =    4.00

             Total                    676.00

TOTAL STOCK INVESTMENT INCLUDING COMMISSION = 790.72 + 676 = $1,466.72

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