Question

kinley invests in stocks, purchasing 40 shares at $120 each, and $10,000 worth of mutual funds. if the brokerage charges a 1.5% fee on the stocks and a 2% fee on the mutual funds, how much does kinley need to pay in total fees? $1,800 $272 $72 $200

Explanation:

Step1: Calculate cost of stocks

$40\times120 = 4800$

Step2: Calculate stock - brokerage fee

$4800\times0.015=72$

Step3: Calculate mutual - fund brokerage fee

$10000\times0.02 = 200$

Step4: Calculate total fees

$72 + 200=272$

Answer:

$272$