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Please show work. Thanks! 3.) (6 points) You have invested in a particular mutual fund in the past. The fund has a 3% front-end load
Please show work. Thanks!
3.) (6 points) You have invested in a particular mutual fund in the past. The fund has a 3% front-end load and a management fee of 0.8%. Fund assets have returned on average 9% per year over the life of the fund. If you invest $30.000 in this fund, what total dollar amount would your investment be worth if you planned to hold the fund for 4 years? Assume the fund has the same expenses and average annual return on fund assets. Show your workStep by Step Solution
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