How much money do you need to buy 250 shares of Pfizer Inc P

How much money do you need to buy 250 shares of Pfizer, Inc. (PFE), which trades at $32.72? (Round your answer to 2 decimal places.)

Your discount brokerage firm charges $8.35 per stock trade.

Solution

Solution: Money needed to buy 250 shares of Pfizer, Inc. = $8,188.35 Working Notes: Money needed to buy 250 shares of Pfizer, Inc. = Market price of 250 shares of Pfizer + Brokerage =250 shares x $32.72 per share    + $8.35 =$8,180 + $8.35 =$8,188.35 Notes: Brokerage is per stock trade , not per shares , only brokerage needed for the purchase is $8.35 , as we do only one trade for the purchase Please feel free to ask if anything about above solution in comment section of the question.