8
QuizMultiple Choice

Buying and Selling Stock

Question 8 • 26-27 Ignite Financial Literacy Personal Finance - EL3403

Geoffrey buys 48 shares of Deegan Pharmaceuticals at $6.15 each, and his broker charges him a commission of $81. How much did Geoffrey pay for his stock?

Answer
A
$376.20
B
$295.20
C
$450.30
D
$219.60

Explanation

First find the cost of the shares: 48 × $6.15 = $295.20. Add the $81 commission: $295.20 + $81 = $376.20. Geoffrey paid $376.20 total, which is choice A.

AI-written and checked against the verified answer.

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