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13 December, 01:46

To expand her portfolio, Piper recently purchased 400 shares of common stock in the Rail Car Manufacturing Company, a manufacturing firm in Nevada. The current market price of RCM's common stock is $19.45 per share. Piper's total wealth from her investment in Rail Car Manufacturing Company is ___.

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  1. 13 December, 01:52
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    =$7,780

    Explanation:

    Calculating Piper's total wealth from her investment

    Piper purchase of Common Stock = 400 Shares

    The market price of Rail Car Manufacturing Company = $19.45

    The total wealth from her investment

    = 400 shares x $19.45

    =$7,780

    The wealth from investment is usually calculated as the value of the shares bought in the company based on the current market price of that shares at the time they were bought.
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