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On January 1, 2005, you invest $20,000 in Libby Mutual Fund, a load fund that charges a fee of 2.5%. The fund's returns were 9%
On January 1, 2005, you invest $20,000 in Libby Mutual Fund, a load fund that charges a fee of 2.5%. The fund's returns were 9% in 2005, 8% in 2006, 3% in 2007. If you redeem all your shares on December 31, 2007, what is the dollar value? A)$24,250.32 B)$24,000.32 C)$23,644.06 D)$23,195.17 E)$21,501.80
On January 1, 2005, you invest $20,000 in Libby Mutual Fund, a load fund that charges a fee of 2.5%. The fund's returns were 9% in 2005, 8% in 2006, 3% in 2007. If you redeem all your shares on December 31, 2007, what is the dollar value?
A)$24,250.32
B)$24,000.32
C)$23,644.06
D)$23,195.17
E)$21,501.80
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
