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1)An open-end fund has a net asset value of $42.70 per share. It is sold with a front-end load of 6%. What is the offering

1)An open-end fund has a net asset value of $42.70 per share. It is sold with a front-end load of 6%. What is the offering price?

42.70/(1-.06)=45.43

2)If the offering price of an open-end fund is $75.60 per share and the fund is sold with a front-end load of 5%, what is the NAV?

Is my first answer correct? Please show your workfor the second

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