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  3. you purchased $2,600 worth of shares in a mutual f

You purchased $2,600 worth of shares in a mutual fund that does not have a...

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Accounting

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You purchased $2,600 worth of shares in a mutual fund that does not have a front-end load. However, there is a back-end load of 5 percent if you sell in the first year, and it decreases one percentage point per year. You sell $1,400 worth of shares in the third year. How much will your back-end load be

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