Answer:
$8680
Explanation:
Given: Quantity of share purchased = 340 shares.
Purchased price= $26 per share.
Selling price= $32 per share.
Commission paid for each transaction= $160.
Now, computing to find the total investment on the purchase of the stock.
Total investment= [tex](Purchase\ price \times\ quantity\ purchased) - Commission\ paid[/tex]
⇒ Total investment= [tex](\$ 26\times 340) - \$ 160[/tex]
⇒ Total investment= [tex]\$ 8840 - \$ 160[/tex]
∴ Total investment= [tex]\$ 8680[/tex]
Hence, total investment on the purchase of the stock is $8680.
