Question 19 • Financial Math
The investor receives 400x dollars from selling the shares, then pays the $9.09 transaction fee. To collect at least $8,086, write 400x − 9.09 ≥ 8,086, so x ≥ 8,095.09 ÷ 400 = 20.237725. Rounded to the nearest hundredth, the share price must be at least $20.24, which is choice C.
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