Problem:
You are a broker and have been instructed to place an order for a client to purchase 500 shares of every IPO that comes to market. the next IPOs are each priced at $25 a share and will begin trading on the same day. the client is allocated 500 shares of IPO A and 100 shares of IPO B. at the end of the first day of trading, IPO A was selling for $23.50 a share and IPO B was selling for $29 a share. what is the client's total profit or loss on these two IPOs as of the end of the first day of trading.
What formula would process this question and how would i use it?