You use a stock broker to purchase 200 shares of Capital Corporation at $67.75. Assuming the broker receives a 2% commission, how much money will you pay for your purchase?

To calculate the total amount you will pay for your stock purchase, you first need to determine the cost of the shares alone and then add the broker's commission.

Begin with the purchase price of the shares. If you are buying 200 shares at $67.75 each, the total cost of the shares is calculated as follows:

[

200 , \text{shares} \times 67.75 , \text{dollars/share} = 13,550 , \text{dollars}

]

Next, you need to calculate the broker's commission, which is 2% of the total cost of the shares. To find this, you multiply the total cost by 2% (or 0.02):

[

13,550 , \text{dollars} \times 0.02 = 271 , \text{dollars}

]

Now, add the commission to the original cost of the shares to find the total amount you will pay:

[

13,550 , \text{dollars} + 271 , \text{dollars} = 13,821 , \text{dollars}

]

Thus, the total amount you will pay