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Serjik [45]
3 years ago
7

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 a

mount withdrawn.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
Business
1 answer:
aivan3 [116]3 years ago
6 0

Answer:

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Mutual charges on amount withdrawn = 6%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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