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14 May, 11:10

Mary Cooper just purchased 100 shares in the All-American Fidelity Fund. The purchase cost for each share was $20. If this fund charges a 5 percent load, what is the total amount of commission she will pay the investment company? Group of answer choices

a. $2,000

b. $100

c. $1,000

d. $2,100

e. It is impossible to calculate Ms. Cooper's total investment with this information.

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Answers (1)
  1. 14 May, 12:18
    0
    total amount of commission = $100

    so correct option is b. $100

    Explanation:

    given data

    purchased = 100 shares

    purchase cost = $20

    charges = 5 percent = 0.05

    to find out

    total amount of commission

    solution

    we get here total amount of commission that is express as

    total amount of commission = purchased * purchase cost * charge ... 1

    put here value, we will get total amount of commission

    total amount of commission = 100 * $20 * 0.05

    total amount of commission = $100

    so correct option is b. $100
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