Question
Assume you purchase 1,000 shares of the no-load Terrier Fund, paying $20/share. During the year, the Fund earns a gross return of 13%, but it
Assume you purchase 1,000 shares of the no-load Terrier Fund, paying $20/share. During the year, the Fund earns a gross return of 13%, but it charges a management fee of 1% and a 12 b-1 fee of .5%, both of which are assessed at the end of the year. If the Fund then pays a dividend of $1.50/share, its NAV per share will be closest to:
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Intermediate Financial Management
Authors: Brigham, Daves
10th Edition
978-1439051764, 1111783659, 9780324594690, 1439051763, 9781111783655, 324594690, 978-1111021573
