Question

Tim Jones bought 100 shares of Mutual fund ABC at $5.25 with no load and 100 shares of DEF at $6.00, which had a load of $275 dollars.

What is the total cost for Mutual fund ABC?
A. $525
B. $850
C. $1,200
D. $275

Answer 1

The total cost of purchasing 100 shares of Mutual Fund ABC at $5.25 per share, with no load, is calculated by simply multiplying the number of shares by the price per share. The total cost is $525.

Step-by-step explanation:

The question asks for the total cost of purchasing 100 shares of Mutual Fund ABC at $5.25 each, with no additional fees or load charges. The total cost is calculated by multiplying the number of shares by the price per share. Therefore, the calculation is:

1. Number of shares of Mutual fund ABC: 100 shares
2. Price per share: $5.25
3. Total cost for Mutual fund ABC: 100 shares * $5.25 = $525

Thus, the correct answer is A. $525.