You would like to sell 290 shares of Echo Global Logistics, Inc. (ECHO). The cur
ID: 2780831 • Letter: Y
Question
You would like to sell 290 shares of Echo Global Logistics, Inc. (ECHO). The current ask and bid quotes are $15.58 and $15.53, respectively. You place a limit sell order at $15.57. If the trade executes, how much money do you receive from the buyer? (Round your answer to 2 decimal places.) You would like to sell 290 shares of Echo Global Logistics, Inc. (ECHO). The current ask and bid quotes are $15.58 and $15.53, respectively. You place a limit sell order at $15.57. If the trade executes, how much money do you receive from the buyer? (Round your answer to 2 decimal places.) You would like to sell 290 shares of Echo Global Logistics, Inc. (ECHO). The current ask and bid quotes are $15.58 and $15.53, respectively. You place a limit sell order at $15.57. If the trade executes, how much money do you receive from the buyer? (Round your answer to 2 decimal places.)Explanation / Answer
Money received from buyer=sale price per share×number of share
=$15.57/share×290 shares
=$4,515.30
Money received from buyer=$4,515.30
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