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How much money would you need to purchase 400 shares of a mutual fund with a NAV of $55 per share and a 3% load?

Looking for the answer to the question below related to Mutual Funds?

How much money would you need to purchase 400 shares of a mutual fund with a NAV of $55 per share and a 3% load?

 Options:

(a) $22,000
(b) $21,450
(c) $23,200
(d) $22,660

 

The Correct Answer Is:

  • (d) $22,660

 

Conclusion

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