To discourage short-term investing in its fund, the fund now charges a 5% upfront load and a

Question:

To discourage short-term investing in its fund, the fund now charges a 5% upfront load and a 2% back-end load. The same investor decides to put $50,000 back into the fund. Calculate the new number of shares outstanding. Assume the fund manager buys back as many round-lot shares of stock 4 with the cash.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Financial Markets And Institutions

ISBN: 978-0132136839

7th Edition

Authors: Frederic S. Mishkin, Stanley G. Eakins

Question Posted: