Morgan Phelps just purchased 200 shares in the Green Fidelity Fund.The purchase cost for each share was $40.If this fund charges a 6 percent load, what is the total amount of commission he will pay the investment company?

Question

Quizplus · Accepted Answer

The commission is calculated as 6% of the total purchase cost. The total purchase cost is 200 shares * $40 = $8000. The commission is 6% of $8000, which is $480.

Morgan Phelps Just Purchased 200 Shares in the Green Fidelity