Francesca withdrew $7,000 from B shares that she owned in the Already Been Counted mutual fund within one year of her purchase. If she must pay a 5% contingent deferred sales fee, what will her total fee be?

her total fee is $350

Explanation:

given data

Francesca withdrew = $7,000

sales fee = 5%

to find out

what will her total fee be

solution

we get her total fee that will be here express as

her total fee = Francesca withdrew * sales fee ... 1

put here value we get

her total fee = $7,000 * 5%

her total fee = $7,000 * 0.05

her total fee = $350

so her total fee is $350