Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The AJL Fund has a front-end load of 5%, a back-end load of 3% and an expense ratio of 1%. NAV of the fund at

The AJL Fund has a front-end load of 5%, a back-end load of 3% and an expense ratio of 1%. NAV of the fund at the beginning of the year (t=0) is $20. During the year, the fund paid out dividend distributions of $0.60 to investors. Assume the stocks in the AJL Fund went up by 10% during the year. What is the NAV at year end (at t=1)?

a) $21.33 b) $21.78 c) $22.00 d) $22.38 e) None of the above

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Meaningful Money Handbook

Authors: Pete Matthew

1st Edition

0857196510, 978-0857196514

More Books

Students also viewed these Finance questions

Question

Give an example of a mineral formed by primary igneous processes.

Answered: 1 week ago

Question

Writing a Strong Introduction

Answered: 1 week ago