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2 November, 01:26

Mary Cooper just purchased 180 shares in the All-American Fidelity Fund. The purchase cost for each share was $13. If this fund charges a 3 percent load, what is the total amount of commission she will pay the investment company?

A. $35.10

B. $65.20

C. It is impossible to calculate the amount of the commission from the information provided.

D. $70.20

E. $75.20

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Answers (1)
  1. 2 November, 03:34
    0
    Cost of purchasing the shares = 180 x $13 = $2,340

    Commission = 3% x $2,340 = $70.20

    Explanation:

    In this case, we need to calculate the cost of purchasing the shares. Thereafter, we will calculate commission based on 3% load (3% of $2,340).
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