Laura invested $4,000 in a mutual fund with a stated load of 6 percent.How much of her money was actually invested in shares of the mutual fund?

Name: Laura invested $4,000 in a mutual fund with a stated load of 6 percent.How much of her money was actually invested in shares of the mutual fund?
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Quizplus · Accepted Answer

A load of 6 percent on a mutual fund means that 6 percent of the investment is taken as a fee. Therefore, 94 percent (100% - 6%) of Laura's $4,000 is actually invested. $4,000 * 0.94 = $3,760.

Laura Invested $4,000 in a Mutual Fund with a Stated