Answer:
The amount mutual fund X will receive is;
[tex]9000\text{ dollars}[/tex]Explanation:
Given;
Total profit P = $12,000,000
Rate of dividends = 15% of P
Total amount of dividends that goes to shareholders is;
[tex]\begin{gathered} \frac{15}{100}\times\text{ \$12,000,000} \\ =\text{ \$1,800,000} \end{gathered}[/tex]A mutual fund X owns 0.5% of the total stock of company Y.
From the total amount of dividends that goes to shareholders, the amount that goes to mutual fund X is;
[tex]\begin{gathered} 0.5\text{\% of \$1,800,00} \\ =\frac{0.5}{100}\times1,800,000 \\ =9000\text{ dollars} \end{gathered}[/tex]Therefore, the amount mutual fund X will receive is;
[tex]9000\text{ dollars}[/tex]