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On a given day a stock dealer maintains a bid price of $1,000.50 for a bond and an ask price of $1003.25. The dealer made 10 trades that totaled 500 bonds traded that day. What was the dealer's gross trading profit for this security

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Respuesta :

Answer:

$1,375

Explanation:

The computation of the dealer's gross trading profit for this security is shown  below:

= (Ask price of the bond - Bid price of the bond)× (number of bonds traded in that day)

= ($1003.25 - $1,000.50) × (500 bonds)

= $2.75 × 500 bonds

= $1,375

Basically we take the difference and then multiplied it by the number of bonds traded

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