Question
You invested $4,500 in a mutual fund 38 months ago when the NAV of the fund was $31.80. You have not acquired or sold any
You invested $4,500 in a mutual fund 38 months ago when the NAV of the fund was $31.80. You have not acquired or sold any shares since that time. Today, the NAV is $30.84. The fund charges a contingent deferred sales charge of 6, 5, 4, 3, 2, 2, and 1 percent if the shares are redeemed within the first 7 years, respectively. How much money will you receive if you redeem your shares today?
Multiple Choice
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$4,448.15
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$4,501.91
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$4,183.86
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$4,233.23
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$4,344.00
2.
Alex invested $10,000 in a mutual fund two and one-half years ago when the NAV of the fund was $25. Today, the NAV has risen to $28.30. Since the time of his original investment, Alex has obtained an additional 54.36 shares by reinvesting the fund distributions. The fund charges a contingent deferred sales charge of 6 percent the first year with the charge decreasing by 1 percent each year. How much money will he receive if he redeems his shares today?
Multiple Choice
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$12,344.05
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$12,858.39
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$13,501.31
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$11,930.52
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$11,633.78
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