When Peter Mills went to withdraw $8,000 from the Lowe Fidelity Mutual fund, he was informed that the fund would charge 3 percent of the amount withdrawn.What is the dollar amount of the withdrawal charge?

Question

Quizplus · Accepted Answer

To calculate the withdrawal charge, we need to multiply the amount withdrawn by the percentage charged, which gives us:
Withdrawal charge = $8,000 x 0.03 = $240
Therefore, the answer is C).

When Peter Mills Went to Withdraw $8,000 from the Lowe