Question

Jan Throng invested $39,000 in the Invesco Charter mutual fund. The fund charges a commission (load) of 4.5 percent when shares are purchased. Calculate the amount of commission (load) Jan must pay

Answer 1

Answer:

amount of commission (load) Jan must pay is $1755

Explanation:

given data

investment  = $39,000

charges commission (load)  = 4.5 percent

to find out

Calculate the amount of commission (load) Jan must pay

solution

we get amount of commission will be here as

amount of commission = investment × charges commission %   ......................1

put here value we will get

amount of commission = $39000 ×  4.5%

amount of commission = $39000 ×  0.045

amount of commission = $1755

so amount of commission (load) Jan must pay is $1755