a company will issue stock and bonds to raise $35,000,000 to finance a project. the company will need to pay…

a company will issue stock and bonds to raise $35,000,000 to finance a project. the company will need to pay specialty fees and service commission as part of this process. 0.5% of the money raised will be spent on specialty fees, and 2% of the money raised will be spent on service commission. calculate the amount of money that will be spent on specialty fees. fees = $?

a company will issue stock and bonds to raise $35,000,000 to finance a project. the company will need to pay specialty fees and service commission as part of this process. 0.5% of the money raised will be spent on specialty fees, and 2% of the money raised will be spent on service commission. calculate the amount of money that will be spent on specialty fees. fees = $?

Answer

Explanation:

Step1: Identify the total money raised and fee - rate

The total money raised is $35000000$, and the rate for specialty fees is $0.5%$ or $0.005$ in decimal form.

Step2: Calculate the specialty fees

Multiply the total money raised by the specialty - fee rate. So, $35000000\times0.005$. $35000000\times0.005 = 175000$

Answer:

$175000$