a company will issue stock and bonds to raise $65,000,000 to finance a project. the company will need to pay…

a company will issue stock and bonds to raise $65,000,000 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 $65,000,000 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 formula

The amount of specialty - fees is calculated by multiplying the total money raised by the percentage of specialty - fees. The formula is $F = P\times r$, where $F$ is the amount of specialty - fees, $P$ is the total money raised, and $r$ is the percentage of specialty - fees as a decimal.

Step2: Convert the percentage to a decimal

The percentage of specialty - fees is $0.5%$. To convert it to a decimal, we divide by 100. So, $r=0.5\div100 = 0.005$.

Step3: Calculate the specialty - fees

The total money raised $P = 65000000$. Using the formula $F = P\times r$, we have $F=65000000\times0.005$. $F = 325000$.

Answer:

$325000$