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21 October, 05:40

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

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  1. 21 October, 06:01
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    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
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