Question

Susan is working with a commissioned-based financial planner. The financial planner is recommending that Susan purchase shares in a mutual fund the charges a 9 percent commission. If Susan invests $10000 how much will the advisor be paid?

$90.
$9000.
$900.
$810.

Answer 1

If Susan invests $10,000 in a mutual fund that charges a 9% commission, the financial planner will be paid $900.

Step-by-step explanation:

If Susan invests $10,000 in a mutual fund that charges a 9% commission, the financial planner will be paid $900. To calculate this, multiply the investment amount ($10,000) by the commission rate (9%) and divide by 100. So, $10,000 x 9/100 = $900.