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14 November, 18:42

When Pete Mills went to withdraw $10,100 from the NFA Mutual fund, he was informed that the fund would charge 6 percent of the amount withdrawn. What is the dollar amount of the withdrawal charge? (Round your answer to 2 decimal places.) Multiple Choice

A. $606.00

B. $6,060.00

C. $60.60

D. $1,212.00

E. $121.20

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Answers (1)
  1. 14 November, 22:29
    0
    Option (A) is correct.

    Explanation:

    Given that,

    Amount withdraw by Pete Mills = $10,100

    Mutual charges on amount withdrawn = 6%

    Therefore, the dollar amount of the withdrawal charge;

    = Amount withdraw by Pete Mills * Percent charges by mutual fund on withdrawal of fund

    = $10,100 * 0.06

    = $606.00

    Hence, the correct answer is $606.00
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