The net asset value of a certain mutual fund is $44. If the fund charges a 6.5% load, how many shares will I own if I invest $5,380 in this fund?
Ans : Value of NAV = $ 44
Add: Entry load of 6.5% = $ 2.86 (44* 6.5%)
Value of NAV after entry load = $ 46.86
Number of units = Amount invested / Value of NAV after entry load
= $ 5,380 / $ 46.86
= 114.81 units
The net asset value of a certain mutual fund is $44. If the fund charges a...
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