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The NAV of a mutual fund is $10 per share. You invest $100,000 in the fund....

The NAV of a mutual fund is $10 per share. You invest $100,000 in the fund. The front end load is 2%. How many shares of the mutual fund do you hold?

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Answer #1

rate positively ..

Amount invested = 100000
Front end load @ 2% = 2000
Net amount invested = 98000
NAV per share = 10
Number of share holding = 98000/10 9800
Ans = 9800
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