Question

As Bart Brownlee approached retirement, he decided the time had come to invest some of his nest egg in a conservative fund. He chose the Franklin Utilities Fund. If he invests $35,000 and the fund charges a load of 4.5 percent when shares are purchased, what is the amount of commission (load) Bart must pay

Answer 1

$1,487.5 is the amount of commission (load) Bart must pay

Step-by-step explanation:

Commision to be paid :

which is equal to

=$35000*4.25%

which is equal to

=$1487.5.