Refer to the following chart. An investor (a day trader) always buys 500 shares of stock at the market close price and sells them at the last sale price, paying a $30 commission per transaction. The stock the trader bought is MSLV. (a) Find the total cost. $ (b) Find the return for the day. $ (c) Find the percent of return. (Round your answer to one decimal place.)
Refer to the following chart. An investor (a day trader) always buys 500 shares of stock at the market close price and sells them at the last sale price, paying a $30 commission per transaction. The stock the trader bought is MSLV. (a) Find the total cost. $ (b) Find the return for the day. $ (c) Find the percent of return. (Round your answer to one decimal place.)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
Refer to the following chart. An investor (a day trader) always buys 500 shares of stock at the market close price and sells them at the last sale price, paying a $30 commission per transaction.
The stock the trader bought is MSLV.
(a) Find the total cost.
$
(b) Find the return for the day.
$
(c) Find the percent of return. (Round your answer to one decimal place.)
$
(b) Find the return for the day.
$
(c) Find the percent of return. (Round your answer to one decimal place.)
Transcribed Image Text:NASDAQ - After Hours 10 Most Advanced
Symbol
Last
Company Market Sale
Name
Close
MSLV MetaSolv Inc.
Penns Woods
Bancorp, Inc.
PWOD
(after
hours)
XXIA Ixia
$2.21 $2.60
NEON NEON Systems, Inc. $3.01 $3.25
Mechanical
MKTY Technology
Incorporated
$41.17 $44.62
Strategic
SDIX Diagnostics Inc. $3.50 $3.70
$18.96 $19.90
$3.61 $3.78
%
Share
Change Volume
(after
hours)
17.65%
8.38%
7.97%
5.71%
4.96%
4.59%
(after
hours)
500
1,500
1,000
7,200
57,965
100
Expert Solution
Step 1
Return can be calculated as = Sale Value - Purchase Cost - Commission on Sale
Return Percentage can be calculated as = (Return / Purchase Cost) x 100
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