Question

Mary cooper just purchased 220 shares in the all-american fidelity fund. the purchase cost for each share was $25. if this fund charges a 4 percent load, what is the total amount of commission she will pay the investment company?

Answer 1

Mary Cooper will pay a total commission of $220 for purchasing 220 shares at $25 each in a fund with a 4 percent load fee.

Step-by-step explanation:

The question involves a calculation of the commission from a mutual fund purchase. It specifically requires determining the cost of a 4 percent load fee on the purchase of 220 shares at $25 per share. To calculate the commission, one must multiply the total purchase amount by the load percentage.

First, calculate the total purchase amount without the commission:

Total purchase amount = Number of shares × Price per share = 220 shares × $25 = $5,500

Next, calculate the commission:

Commission = Total purchase amount × Load fee = $5,500 × 4% = $5,500 × 0.04 = $220

Therefore, Mary Cooper will pay a total commission of $220 to the investment company.

Answer 2

I'm not a hundred percent sure but try asking Google