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withdraw $8,000 from the Lowe Fidelity Mutual fund, he was informed that the fund would charge 3 percent of the amount withdrawn.What is the dollar amount of the withdrawal charge?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

---

Definitions:

Energy Source

A point or substance from which energy can be obtained to provide heat, light, power, or other forms of energy.

Long Run

A period in which all factors of production and costs are variable, allowing firms to adjust all inputs.

Substitute Resources

Alternative resources or inputs that can be used in production to replace other resources, helping to maintain production when some resources are scarce.

Natural Resource

Materials or substances such as minerals, forests, water, and fertile land that occur in nature and can be used for economic gain.