McKenzie buys 250 shares of stock for $12 a share and pays a 2% commision. She sells the stock 3 years later for $18 a share and pays 1% commission. What are her net proceeds?
The first commision would be $60, on top of the $3000 to buy the shares. The second commision would be $45, with a $4500 sale point. So $4500 - $3105 = $1395 is the profit.
