Lisa is a broker who charges 1.5% per stock transaction fee. A competing online broker charges $24 per trade. If someone is planning to purc

Question

Lisa is a broker who charges 1.5% per stock transaction fee. A competing online broker charges $24 per trade. If someone is planning to purchase stock, at what total purchase price would Lisa’s commission equal the online broker fee?

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Evelyn 2 weeks 2021-09-08T17:09:52+00:00 1 Answer 0

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    2021-09-08T17:11:38+00:00

    Answer:

    Step-by-step explanation:

    For equating the transaction fees of Lisa and the broker:

    1.5 % of Total stock purchase price = $24

    \frac{1.5}{100} * x = 24

    ∴Total Stock purchase price = $1600

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