Question

Francesca withdrew $7,000 from B shares that she owned in the Already Been Counted mutual fund within one year of her purchase. If she must pay a 5% contingent deferred sales fee, what will her total fee be?

Answer 1

Answer:

her total fee is $350

Explanation:

given data

Francesca withdrew  = $7,000

sales fee = 5%

to find out

what will her total fee be

solution

we get her total fee that will be here express as

her total fee  =  Francesca withdrew ×  sales fee             .......................1

put here value we get          

her total fee  = $7,000 × 5%

her total fee  = $7,000 × 0.05

her total fee  = $350

so her total fee is $350