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

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