When Peter Mills Went to Withdraw $8,000 from the Lowe

question 4

Multiple Choice

When Peter Mills went to withdraw $8,000 from the Lowe Fidelity Mutual fund, he was informed that the fund would charge 3 percent of the amount withdrawn.What is the dollar amount of the withdrawal charge?

• A)$2,400
• B)$500
• C)$240
• D)$24
• E)It is impossible to calculate the withdrawal charge with this information.

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Definitions:

Groom's Family

The family of the male partner in a marriage, which can play a significant role in wedding preparations, traditions, and ongoing family relationships.

Bride's Family

The family of the female partner in a marriage or wedding ceremony.

Dowry

The money, goods, or property a woman brings to a marriage.

Marriage

A legally or culturally sanctioned union between individuals that establishes rights and obligations between them, as well as between them and their children, and between them and their in-laws.