Heres an example of how breakpoint discounts on sales commissions for mutual fund investors work:

Sales charge

Less than $25,000, 5.75%

$25,000 to $49,999, 5.5%

$50,000 to 99,999, 4.75%

$100,000 to $249,999, 3.75%

Nancy Dolan is interested in the T Rowe Price Mid Cap Fund. Assume the NAV is 19.15.

a. What minimum amount of shares must Nancy purchase to have a sales charge of 5.5%? (Round up to the nearest share even if it is less than 5.)

Minimum amount of shares

b. What minimum amount of shares must Nancy purchase to have a sales charge of 4.75%? (Round up to the nearest share even if it is less than 5.)

Minimum amount of shares

c. What minimum amount of shares must Nancy purchase to have a sales charge of 3.75%? (Round up to the nearest share even if it is less than 5.)

Minimum amount of shares

d. What would be the total purchase price for (a), (b), or (c)? (Round your answers to the nearest cent.)

	Total purchase price
(a)	$
(b)	$
(c)	$