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Mary has $25,000 to invest in a mutual fund with a NAV = $25. Assuming a No load fund, how many shares can Mary purchase?

Mary has $25,000 to invest in a mutual fund with a NAV = $25.

  1. Assuming a No load fund, how many shares can Mary purchase?
  2. Assuming a front-end load of 5.6%, how many shares can she purchase?
A.

A. 1,000 shares

B. 1,000 shares

B.

A. 944 shares

B. 1,000 shares

C.

A. 1,000 shares

B. 944 shares

D.

A. 944 shares

B. 944 shares

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