The Anderson Balanced mutual fund charges a sales load of 4.85%. If you invest $15,000, how much must you pay in commissions?

Question

Quizplus · Accepted Answer

The sales load charged by the Anderson Balanced mutual fund is 4.85%, which means that 4.85% of the invested amount needs to be paid as commission. Therefore, the commission payable on an investment of $15,000 will be 4.85% of $15,000, which is $727.50. So, the correct answer is D, $727.50.

The Anderson Balanced Mutual Fund Charges a Sales Load of 4.85