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Question
Alex invested $10,000 in a mutual fund two and one-half years ago when the NAV of the fund was $25. Today, the NAV has risen to $28.30. Since the time of his original investment, Alex has obtained an additional 54.36 shares by reinvesting the fund distributions. The fund charges a contingent deferred sales charge of 6 percent the first year with the charge decreasing by 1 percent each year. How much money will he receive if he redeems his shares today?A. $11,633.78
B. $11,930.52
C. $12,344.05
D. $12,858.39
E. $13,501.31
Answer
This answer is hidden. It contains 101 characters.
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