Question
Use the following to answer the next two questions: You invested $100,000 in a mutual fund last year. At the time you opened your account,
Use the following to answer the next two questions:
You invested $100,000 in a mutual fund last year. At the time you opened your account, the mutual fund shares had a NAV of $20. The fund charges a 3% front-end load and a 1% back-end load. During the course of your investment, you received $2 per share in dividends, which you reinvested in the fund at a price of 25$/share. The fund's NAV was $26 at the time you closed your account.
Find the total number of shares you owned after you reinvested your dividends. Round intermediate steps to four decimals and your final answer to the nearest whole share.
a) 5400
b) 5388
c) 5238
d) 5226
Calculate your HPR. Round intermediate steps and your final answer to four decimals. Enter your answer in decimal format.
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