Question
Sal bought $x$ shares of a stock that sold for $\$ 23.50$ per share. He paid a 1$\%$ commission on the sale. The total cost of his investment, including the broker fee, was $\$ 3,560.25 .$ How many shares did Sal purchase?
Step 1
50 each, and he also paid a 1% commission on the sale. So, the total cost of his investment is the cost of the shares plus the commission. This can be written as $23.50x + 0.01(23.50x)$. Show more…
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