Question

Samantha James puts $10,000 into a load mutual fund. She knows that her up front sales commission is 5%. How much of her money actually goes to buy shares in the mutual fund

Answer 1

$9,500

Step-by-step explanation:

Money gone to Buy shares = Actual Amount - Load

Money gone to Buy shares = $10,000 - (5%*$10,000)

Money gone to Buy shares = $10,000 - $500

Money gone to Buy shares = $9,500