Cynthia and Byron sell mutual funds for Syndicated Investors. Purchasers of mutual funds from agents of Syndicated Investors pay a front-end commission of 5.5%. The commission is paid on the total amount paid to Syndicated Investors, not on just the net amount actually invested in mutual funds.
a) Mr. and Mrs. Stevens placed $5,500 through Cynthia. What (net) amount was actually invested in mutual funds after the commission was paid?
b) If the net amount invested in mutual funds as a result of Byron's sale to Mrs. Stocker was $6,426, what (dollar) amount of commission was paid on the sale?

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The Answer of Cynthia and Byron sell mutual funds for Syndicated Investors. Purchasers of mutual funds from agents of Syndicated Investors pay a front-end commission of 5.5%. The commission is paid on the total amount paid to Syndicated Investors, not on just the net amount actually invested in mutual funds.
a) Mr. and Mrs. Stevens placed $5,500 through Cynthia. What (net) amount was actually invested in mutual funds after the commission was paid?
b) If the net amount invested in mutual funds as a result of Byron's sale to Mrs. Stocker was $6,426, what (dollar) amount of commission was paid on the sale?

Cynthia and Byron Sell Mutual Funds for Syndicated Investors