A mutual fund has no front-end load, but it has a back-end load of 4.5%...
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A mutual fund has no front-end load, but it has a back-end load of 4.5% (this is fixed no matter how long the fund is held). The expected return, net of fees, is 8.5% per year. What is the end value of a $15,000 investment in the fund in five years? 1) $24,024 2) $23,628 3) $22.432 4) $21,540 5) $25,281
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