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A company has issued 20 million shares of stock. A mutual fund owns 40,000 shares of this company's stock. What percentage of the company's shares are owned by the mutual fund? Round your answer to the nearest tenth of a percent. Do NOT round until you have calculated the final answer

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asuralite

Answer:

[tex]\Huge \boxed{\boxed{\bf{0.2\%}}}[/tex]

Step-by-step explanation:

To calculate the percentage of the company's shares owned by the mutual fund, we need to divide the number of shares owned by the mutual fund by the total number of shares issued by the company, and then multiply the result by 100 to express it as a percentage:

[tex]\boxed{\tt{\texttt{\% of ownership} = \left(\frac{\texttt{Number of shares owned by the mutual fund}}{\texttt{Total number of shares issued by the company}}\right) \times 100}}[/tex]

  • [tex]\tt{\texttt{Percentage of ownership} = \left(\frac{40,000}{20,000,000}\right) \times 100\%}[/tex]
  • [tex]\tt{\texttt{Percentage of ownership} = 0.2\%}[/tex]

Therefore, the mutual fund owns 0.2% of the company's shares (rounded to the nearest tenth).

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