Question

the anderson balanced mutual fund charges a sales load of 5.25 percent if you invest $25,000, how much of your investment will actually be used to purchase shares in the fund

Answer 1

Answer: $23687.50

Explanation:

Since Anderson balanced mutual fund charges a sales load of 5.25 percent if you invest $25,000, the amount of the investment that will actually be used to purchase shares in the fund will be:

= $25000 - (5.25% × $25000)

= $25000 - $1312.5

= $23687.50

Therefore, the answer will be $23687.50.