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A mutual fund charges a front-end load of 5% and annual operating expenses of 0.34%, calculated based on the average value of the fund. You
A mutual fund charges a front-end load of 5% and annual operating expenses of 0.34%, calculated based on the average value of the fund. You invest $6,000 into the fund. The fund returns 6% during the first year and 5% during the next year. After two years, you liquidate your investment in the fund and pay the back-end load. How much is your investment worth?
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