Question

Carmen invested $2,000 in a mutual fund that is front-loaded, with a loading rate of 4.75 %. What was the

loading charge of this fund? (3 points)

Answer 1

$95

Explanation:

Carmen invested $2,000 in a mutual fund with a loading rate of 4.75%. To calculate the loading charge, we can multiply the amount invested by the loading rate: $2,000 * 4.75% = $95. So, the loading charge for this mutual fund was $95.