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tkd_fighter tkd_fighter
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11 months ago
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 $5500 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 $6426, what (dollar) amount of commission was paid on the sale?
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Business Mathematics in Canada

Business Mathematics in Canada


Edition: 11th
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iammtziammtz
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11 months ago
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tkd_fighter Author
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11 months ago
Thanks
shangshang
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Yesterday
You make an excellent tutor!
husne
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2 hours ago
Helped a lot
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