How He wants to buy 13shares of stock at $ 12 per share. His broker charges 10 % commission for the sale. How much will he pay for the stock?
13*$12=$156, this is the total price of the shares. Add 10% of that: 156+15.6=$171.6. This is how much he will end up paying.
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About Stock
A stock is a share in the ownership of a company. Stock represents a claim on the company's assets and earnings. If you continue to buy more stock in a company, your ownership stake in the company becomes greater. Some other names for stock are shares and equity. When you buy stock in a company, you become one of the company’s owners and you are called a shareholder of that company.
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