Question 5 • 26-27 Ignite Financial Literacy Personal Finance - EL3403
The commission is 12.5% of each transaction because $125 ÷ $1,000 = 0.125. Ben’s purchase cost was 442 × $15.67 = $6,926.14, and his sale proceeds were 442 × $23.14 = $10,227.88. After rounding the commissions to cents, he paid $865.77 to buy and $1,278.49 to sell, so his profit was $10,227.88 − $6,926.14 − $865.77 − $1,278.49 = $1,157.48. The correct choice is C, $1,157.48.
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