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You purchase 1,000 shares of an AGF mutual fund for $25 and hold it for 3 years, earning a 10% return, compounded monthly. The fund

You purchase 1,000 shares of an AGF mutual fund for $25 and hold it for 3 years, earning a 10% return, compounded monthly. The fund charges a back-end load of 4%. What are your net proceeds upon sale?

a.$31,899

b.$30,402

c.$32,356

d.$33,705

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