You Invested $7,000 in a Mutual Fund 28 Months Ago

question 33

Multiple Choice

You invested $7,000 in a mutual fund 28 months ago when the NAV of the fund was $22.30. You have not acquired or sold any shares since that time. Today, the NAV is $21.50. The fund charges contingent deferred sales charges of 6%, 5%, 4%, 3%, 2%, 2%, and 1% if the shares are redeemed within the first 7 years, respectively. How much money will you receive if you redeem your shares today?

• A)$6,178.86
• B)$6,275.23
• C)$6,355.00
• D)$6,478.92
• E)$6,508.91

Identifying and calculating key financial ratios and their significance.

Understanding the importance and methods of financial statement analysis.

Identifying the types of assets and differentiating between current and long-term assets.

Recognizing the components of owners' equity and its significance to a company.

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Definitions:

Recording Information

The act or process of documenting or capturing data, observations, or events for future reference or analysis.

Efficiently

Achieving maximum productivity with minimal wasted effort or expense.

Effectively

In a manner that produces the intended result or a successful outcome, often implying efficiency and competence.

True Random Samples

Sampling methods that ensure every member of a population has an equal chance of being selected.