Question
An open-end mutual fund has the following stocks: Stock Shares Stock Price A 13,000 $ 84 B 31,000 24 C 3,500 65 D 81,000 12
An open-end mutual fund has the following stocks:
| Stock | Shares | Stock Price | ||
| A | 13,000 | $ | 84 | |
| B | 31,000 | 24 | ||
| C | 3,500 | 65 | ||
| D | 81,000 | 12 | ||
The fund has 53,000 shares and liabilities of $132,000. Assume the fund is sold with a front-end load of 4.5 percent. What is the offering price of the fund? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
The Commercial Aircraft Finance Handbook
Authors: Ronald Scheinberg
2nd Edition
1138558990, 978-1138558991
