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

• $4,448.15

• $4,501.91

• $4,183.86

• $4,233.23

• $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

• $12,344.05

• $12,858.39

• $13,501.31

• $11,930.52

• $11,633.78