DavidNeedsHelp7632 DavidNeedsHelp7632
  • 23-07-2017
  • Business
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Tiffany scott puts $10,000 into a load mutual fund. she knows that her up-front sales commission is 6%. how much of her money actually goes to buy shares in the mutual fund?

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W0lf93
W0lf93 W0lf93
  • 01-08-2017
If the upfront sales commission is 6%, then $9,400 will go to actually buy shares. This is because 6% of $10,000 is $600. Thus, to find the answer, you must subtract $600 from the initial amount, $10,000. Thus, $10,000 - $600 = $9,400. So, there is $9,400 left over to buy shares in the mutual fund.
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