Tiffany Scott puts $8,000 into a load mutual fund.She knows that her up-front sales charge is 5%.How much of her money actually goes to buy shares in the mutual fund?

Name: Tiffany Scott puts $8,000 into a load mutual fund.She knows that her up-front sales charge is 5%.How much of her money actually goes to buy shares in the mutual fund?
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Question

Quizplus · Accepted Answer

The up-front sales charge of 5% on $8,000 is $400 ($8,000 * 0.05), so the amount actually used to buy shares is $8,000 - $400 = $7,600.

Tiffany Scott Puts $8,000 into a Load Mutual Fund