Anne Lily purchased 260 shares of the New Sage Growth Fund.The net asset value for each share at the time of purchase was $19.If this fund charges a 4.5 percent load, what is the commission amount she will pay the investment company?

Question

Quizplus · Accepted Answer

First, we need to calculate the total cost of purchasing 260 shares, which is:
260 shares x $19/share = $4940
Next, we need to calculate the commission amount by multiplying the total cost by the load percentage:
$4940 x 4.5% = $222.30
Therefore, the commission amount she will pay the investment company is $222.30. Option B is the correct answer.

Anne Lily Purchased 260 Shares of the New Sage Growth