2017FS FINANC 2000 Hegger Sur FIN 2000 FS2017 All Sections FINANCE 0 Chapter 8 S

Question

2017FS FINANC 2000 Hegger Sur FIN 2000 FS2017 All Sections FINANCE 0 Chapter 8 Stocks Question 2 (of 12) 2 value 1.00 points Problem 8-7 Buying Stock with a Market Order (LG8-4) You would like to buy shares of Sinus Satelito Radio (SIR). The current ask and bid quotes are $3 86 and $3.83, respectively. You place a market buy order for 510 shares that executes at these quoted prices. How much money did it cost to buy these shares? (Round your answer to 2 decimal Cost of shares References eBook& Resources Worksheet Problem 8-7 Buying Stock with a Market Order(LG8-4) Difficulty: 1 Basic

Explanation / Answer

Cot of shares = 3.86 * 510 = $1968.6

Ask price is the price at which seller wishes to sell the stock.

A market order is an order to trade a stock at the current market price.

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