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Term
Spring
Professor
Chaudhury,Z
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Unformatted text preview: Chapter 8 Problems i
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3
Your discount brokerage firm charges $8.90 per stock trade.
How much money do you need to buy 250 shares of Time Warner, Inc. (TWX), which trades at $40.22? (Round your answer to 2
1/1
decimal places.)
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Amount
needed
$ 10,063.90
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Explanation
($40.22/share x 250 shares) + $8.90 = $10,063.90....
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