You purchased $2000 of a gold fund and it is now worth $6400.You intend to take your profits with a 3 percent redemption fee. The redemption fee will be $192.

Name: You purchased $2000 of a gold fund and it is now worth $6400.You intend to take your profits with a 3 percent redemption fee. The redemption fee will be $192.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

To calculate the redemption fee, simply take 3% of the current value of the gold fund:

3% of $6400 = $192

Therefore, the redemption fee will be $192, as stated in the question.

You Purchased $2000 of a Gold Fund and It Is