Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. a mutual fund charges 6% front-end load and 3% ope

A mutual fund charges 6% front-end load and 3% operating and 12b-1 expenses. At the beginning...

70.2K

Verified Solution

Question

Finance

A mutual fund charges 6% front-end load and 3% operating and12b-1 expenses. At the beginning of the year, the fund has $200million assets under management and 10 million shares outstanding.During the year the value of assets held by the fund increases by10% and the fund receives dividends of $2 million. What is thefund's NAV at the end of the year? (The number of mutual fundshares outstanding is still 10 million at the end of the year.)

$20.06

$21.54

$20

$21.34

Answer & Explanation Solved by verified expert
4.4 Ratings (1074 Votes)
    See Answer
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!
Become a Member

Other questions asked by students

Chemistry
1.2K views

4. Acid-base reaction is a neutralization reaction. If 12.50 mL of 1.20 M NaOH solution is...

Finance
1.2K views

Rieger International is evaluating the feasibility of investing ?$90,000 in a piece of equipment that has a 55?-year life. The...

Accounting
1.2K views

Saddle Inc. has two types of handbags: standard and custom. The controller has decided to use...

Geometry
1.2K views

QUESTION 20 Convert the ordered pair in rectar 0 2TT 7 3 7 5x

Geometry
1.2K views

14 140 Le 18 tan Find the exact value of each trigonometric function Create a...

Basic Math
1.2K views

Millan Learning Let sec t 3 and cot t be negative Find the values of...

Calculus
1.2K views

A certain group of test subjects had pulse rates with a mean of 82 1...

Calculus
1.2K views

47 Use your calculator to estimate f sin x 2 dx OA 3 628 OB...

Accounting
1.2K views

Jul16 Business completed catering service for TMA Centre Ltd and billed them $1,825

Accounting
1.2K views

Absorption and Variable Costing Income Statements During the first month of aperations arded July 31,...

Accounting
1.2K views

31. The available capital funds are to be carefully allocated among competing projects by careful...

Accounting
1.2K views

Revision of Depreciation On January 1,2021, Blizzards-R-Us purchased a snow-blowing machine for $125,000....