An investor purchases a back-end load fund whose fee starts at 8% in the first...
70.2K
Verified Solution
Link Copied!
Question
Finance
An investor purchases a back-end load fund whose fee starts at 8% in the first year and drops by 1% every year, so that it will be 0% in the ninth year. If the NAVPS is $16.50 at the time of redemption 2 1/2 years later and the company uses the redemption NAVPS in their calculation, what would the redemption price be? $15.68 $15.76 $15.51 $15.35
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
