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

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withdraw $8,000 from the Lowe Fidelity Mutual fund, he was informed that the fund would charge 3 percent of the amount withdrawn.What is the dollar amount of the withdrawal charge?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