Stock Assignment
Last month Billy bought some stock in BillCo, Inc. Here are some details:
- Billy purchased 2,000 shares
- He paid $22.97 per share.
- He paid a commission of 2.5% the amount he paid for the stock.
Three weeks later Billy sold the stock. Here are the details:
- He sold 2,000 shares.
- He sold the shares for $27.97
- He paid his stock broker another commission of 2.5% of the amount he received for the stock.
Calculate the following:
- How much Billy paid for the stock.
- The amount of commission paid to the broker when he bought the stock.
- The amount Billy sold the stock for.
- The amount of commission paid his broker when he sold his stock.
- Display the amount of profit Billy made after selling the stock and paying the two commissions.